The Centre has released Rs 4,314.13 crore to Karnataka as grant-in-aid to compensate the state for the loss of revenue in GST collection.
As per the order isssued by the Ministry of Finance, this money is being released to state to compensation for the loss of revenue for the month of December 2019 and February 2020 on account of implementation of the GST, said the order.
Under the GST law, states were guaranteed to be paid for any loss of revenue in the first five years of the GST implementation, which came into force from July 1, 2017.
The Centre is releasing the GST compensarion to the states to help mobilise resources to fight against Covid-19.
Published 05 June 2020, 16:31 IST