AP Receives GST Compensation Shortfall From Centre Under The 18th Installment

 - Sakshi Post

NEW DELHI: In a relief the state of Andhra Pradesh, the  Centre released the 18th installment of GST compensation to the States. As per an official release by the Union Finance Ministry on Monday, around 94 per cent of the total estimated GST compensation shortfall has been released to the States and Union Territories.

Out of this, an amount of Rs 95,138.08 Crore has been released to the states and an amount of Rs 8,861.92 Crore has been released to three UTs with Legislative Assemblies, the finance ministry said on Monday. With this, the total amount released to the states so far has reached Rs 1.04 Lakh crore.

Of this, Andhra Pradesh got Rs 2,306.59 Crore and Telangana Rs 2,027.33 Crore. An amount of Rs 5,051 Crore under additional loan facility and Rs 2,306 crore through Special Borrowing Window will be given to AP.

Compared to February last year, GST collection has increased by 3 per cent in Andhra Pradesh and one per cent in Telangana.

Following are the GST collection figures released by the Union Finance Ministry for the month of February.

While AP collected Rs 2,563.33 crore in February 2020, this time it has reached Rs 2,652.57 Crore. Telangana's revenue fell to Rs 3,636.44 crore from Rs 3,667.13 Crore. Overall, the revenue of all the states increased by 5% from Rs 83,581.02 crore to Rs 88,101.59 Crore.

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