Mon. Oct 26th, 2020

GOA RECEIVES 48% LESS GST COMPENSATION FROM CENTER: GOA FINANCE MINISTRY

The Goajunction’s sources at the state finance ministry said that the state government has received around Rs. 130 crores as GST compensation from preceding 3 months. The finance department had expected around Rs. 250 crore compensation from the centre.    The reduction in GST compensation, is due to lack of GST collection at pan-India level.

The sources from the state finance ministry, also confirmed that several outstanding bills and dues for the financial year 2019 – 2020 were pending with the state government. The finance secretariat informed Goajunction, that all pending bills after 31st March  2020, will returned back to respective departments as routine procedures.  All the  departments will have to re-submit the pending bills to finance departments in April 2020.

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