• Notification Date: 10-05-2022
• Notification No: N/A

Union Finance Minister Declares the Settlement of GST Dues

Union Finance Minister Nirmala Sitharaman has declared that the GST formulation dues to the states that were pending for the months of February and March, 2022, that have been settled. An amount of Rs.78,000 crore of GST dues are still pending by the states and it would get settled real soon.

Union Finance Minister Nirmala Sitharaman declared that on Sunday at the occasion of the 52nd annual day of the famous Tuglak Magazine, some newspapers had questioned her intentions regarding her visit to Chennai. At the time of her visit to Chennai, there were conflicts between the state and the Union Government. According to her statement, there is no bias against Tamil Nadu. There was a long-drawn argument regarding the high amount of tax yielded by Tamil Nadu and yet being deprived of the infrastructure benefits.

Someone from the audience asked her about bringing petrol under the GST framework. To this question, she replied that the inclusion of petrol under GST would be possible if the finance minister of the state government of Tamil Nadu would be consensual of it. According to her statement, funds from cess had been granted to the state. In the GST Council of 2020, it was decided that a sum of money would be borrowed in order to fulfill the economic shortfall. Rs.1.1 lakh crore was distributed in 2020 and 0.5 lakh crore was given in the following year. Till the present year, Rs.7.4 lakh crore of GST dues have been granted to the different dates across India. The pending amount which is yet to be settled will be settled very soon.