GST Council Meeting: Govt to Clear Entire GST Compensation Dues, Says Nirmala Sitharaman

Feb 18, 2023, 20:20 IST

New Delhi: Union Finance minister Nirmala Sitharaman said the government will clear the entire GST compensation dues to the tune of Rs 16,982 crore as decided at the 49th GST Council meeting on Saturday.

“As of May 31, we cleared all the dues. There was something left in the name of dues for June. Even that is getting cleared,” Nirmala Sitharaman said.

The Union Minister said the amount is not available in the compensation fund as of today, but the government will clear the entire dues of the pending balance of the GST compensation from its own pocket.

The 49th GST Council meeting took following decisions today:

Late fee for delayed filing of annual returns to be rationalised
GST on pencil sharpeners reduced from 18 per cent to 12 per cent
No GST on loose rab gur (liquid jaggery); it was 18 per cent earlier
GST on pre-packaged and labelled rab gur (liquid jaggery) reduced from 18 per cent to 5 per cent
Services supplied by courts and tribunals will be taxed under the reverse-charge mechanism
No GST on "coal rejects" when they are supplied to or by a coal washery
No GST on tags, tracking devices or data loggers; it was 18 per cent earlier

Centre will also clear the admissible final GST Compensation to those states who've provided revenue figures certified by the Accountant General which amounts to Rs 16,524 crores.

- Smt @nsitharaman. pic.twitter.com/p7iAuRUMSc

— NSitharamanOffice (@nsitharamanoffc) February 18, 2023