SHILLONG, Oct 7: Meghalaya on Thursday received a sum of Rs 35.47 crore from the Union Finance Ministry under the back-to-back loan facility to meet the shortfall in GST compensation.
The amount is part of the sum of Rs 40,000 crore released by the Ministry to the states and union territories under the back-to-back loan facility to meet the shortfall in GST compensation.
Meghalaya has received an amount of Rs 20.84 crore in five-year tenor and Rs 14.63 crore in two-year tenor.
Earlier on July 15 this year, an amount ( of Rs 75,000 crore was released to the states and UTs with legislature.
With the current release, the total amount released in the current financial year as back-to-back loan in lieu of GST compensation has reached Rs 1,15,000 crore. This is in addition to normal GST compensation being released every two months out of actual cess collection.
