Centre pays Rs. 9021 crore GST compensation to Gujarat; CM thanks PM Modi
July 03, 2023
Gandhinagar: The Central government has paid Rs. 9,021 crore GST compensation to Gujarat. Chief Minister Bhupendra Patel has expressed his gratitude to the Prime Minister Narendrabhai Modi and the Central government.
A provision was made to compensate the states against the fall in revenue during the implementation of the GST law. For this the GST Compensation Cess Act was framed. According to the provisions of this act, the protected income of the states was determined for five years from 01-07-2017 to 30-06-2022 based on the annual growth of 14% per annum, considering the financial year 2015-16 as the base year.
In this context, the central government has allocated an amount of ₹ 9021 crore to Gujarat as GST compensation due to Gujarat government today. Chief Minister Shri Bhupendra Patel has expressed his gratitude to Prime Minister Shri Narendrabhai Modi and Finance Minister Shri Nirmala Sitharaman and Central Government for allocating this amount to Gujarat. DeshGujarat
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