![Centre may prepay loans taken to compensate states](https://cdn.magzter.com/1560517598/1719180545/articles/dxmLnNz9y1719187893662/CENTRE-MAY-PREPAY-LOANS-TAKEN-TO-COMPENSATE-STATES.jpg)
GST REVENUE LOSS DURING COVID YEARS
The compensation cess expired in June 2022, but amount collected through the levy is being used to repay the interest and principal of the Rs 2.69 lakh crore that the Centre had borrowed during COVID-19
The central government may be able to repay Rs 2.69 lakh crore loans it had taken to compensate states for GST revenue loss in FY21 and FY22 by November 2025, four months ahead of its scheduled repayment, an official has said.
The full repayment of the market borrowings is expected earlier than the previously calculated timeline of March 2026.
The issue is expected to be taken up for discussion in the next meeting of the GST Council in August, the official added.
This story is from the June 24, 2024 edition of Millennium Post Delhi.
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This story is from the June 24, 2024 edition of Millennium Post Delhi.
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