New Delhi: The GST collection has declined in April-August due to the lockdown effect announced to deal with the corona epidemic. The states are yet to receive Rs 1.51 lakh crore in compensation, said Union Finance Minister Anurag Thakur. Maharashtra has a maximum of Rs 22,75 crore, Karnataka Rs 13,73 crore, Uttar Pradesh Rs 11,72 crore, Gujarat Rs 11,583 crore and Tamil Nadu Rs 11,28 crore. Similarly, West Bengal is expected to receive Rs 9,650 crore, Kerala Rs 808 crore, Punjab Rs 758 crore, Delhi Rs 731 crore, Rajasthan Rs 4312 crore, Telangana Rs 5,728 crore and Chhattisgarh Rs 2,728 crore.
In a written reply to the Lok Sabha today, Mr. Thakur said that Rs 1,51,375 crore in GS4 compensation owed to the states was outstanding. The issue of arrears was discussed at the 81st meeting of the GS6 Council on August 28, and the states were given two options to repay the loan. Debts will be arranged for states to choose from. It is estimated that Rs 2.35 lakh crore will be less than the target of GST collection in the current financial year. According to the central government, there will be a shortfall of Rs 6,000 crore for the implementation of GS6 and a shortfall of Rs 1.36 lakh crore for the impact of Kovid-18. There will be a total shortfall of Rs 2.35 lakh crore. In the current financial year, the budget aims to collect Rs 4,60,500 crore in GST. Of this, Rs 1,61,050 crore has been collected as of August, which is 28.2 per cent of the target set in the budget. Commenting on the reasons for the decline in revenue, Mr. Thakur said that the GST revenue has been affected by the lockdown announced for the corona. Thirteen states have reportedly accepted the central government’s proposal to repay the loan. Andhra Pradesh, Bihar, Gujarat, Haryana, Karnataka, Madhya Pradesh, Meghalaya, Sikkim, Tripura, Uttar Pradesh, Uttarakhand and Odisha have opted for the first option, while Manipur is the only state that has opted for the second option. Goa, Assam, Arunachal Pradesh, Nagaland, Mizoram and Himachal Pradesh will announce their options in a day or two, he said.
