Centre owes no GST compensation to Karnataka: MoS Pankaj Chaudhary

New Delhi: The Centre on Monday informed in the Lok Sabha that no GST dues to the state of Karnataka are pending.

Replying to BJP's Govind Karjol, the Lok Sabha MP from Chitradurga, the Union Minister of State for Finance Pankaj Chaudhary said in a written statement that the Centre has released the entire amount of provisionally admissible compensation to the States/UTs for loss of revenue arising on account of implementation of Goods and Services Tax (GST) for five years, i.e, from July 1, 2017, to June 30, 2022.

"Final compensation arising out of reconciliation of provisional figures with audited figures is released immediately on receipt of Accountant General certificate. Final/balance compensation has also been released to Karnataka for FY 2017-18 to FY 2022-23. Hence, no amount is pending to be released to the state of Karnataka.

From 2017-18 to 2022-23 (April-June, 2022), a total Rs 1.06 lakh crore was given to Karnataka, which includes Rs 75,742 crore as compensation, and Rs 30,516 crore in back-to-back loans, the Minister said.