This amount will enable the state governments to make in-time releases and add to the festivities and celebrations among the people, said the Ministry of Finance in a statement.
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The Central government on Tuesday has authorized the release of tax devolution of Rs 72,961.21 crore to state governments for the month of November. This comes ahead of the stipulated time for the devolution, which is November 10.
This amount will enable the state governments to make in-time releases and add to the festivities and celebrations among the people, said the Ministry of Finance in a statement.
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The highest amount was allotted to Uttar Pradesh at Rs 13088.51 crore, followed by Bihar at Rs 7338.44 crore.
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West Bengal, another state where the Durga Puja and Diwali is celebrated at the fullest has received Rs 5488.88 crore from the Central government for the month of November.
Maharashtra got Rs 4608.96 crore from the Central government while the poll-bound Madhya Pradesh, and Chhattisgarh received Rs 5727.44 crore and Rs 2485.79 crore respectively.
The Union Government authorized release of tax devolution of Rs 2952.74 crore to Andhra Pradesh State Government and Rs 1533.64 crore to Telangana State Government for the month of November.
It is to be noted that the GST revenues growth bounced back in October with tax collections rising at a 10-month high pace of 13.4 per cent to hit the second highest monthly tally of Rs 1.72 lakh crore.
October’s GST receipts were 5.7 per cent over the kitty in September, when growth in the indirect tax had slowed to a 27-month low of 10.2 per cent.
Out of Rs 1.72 lakh crore, Rs 30,062 crore is CGST, Rs 38,171 crore is SGST, Rs 91,315 crore is IGST and Rs 12,456 crore is cess.
The Finance Ministry has said the Centre has settled Rs 42,873 crore to CGST and Rs 36,614 crore to SGST from IGST.
The total revenue of Centre and the States in the month of October after regular settlement is Rs 72,934 crore for CGST and Rs 74,785 crore for SGST.
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