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The Hindu

National

The Hindu Bureau

₹4,122 crore released to Kerala as tax devolution, IGST settlement

The Union government has released ₹4,122 crore to Kerala with respect to tax devolution and settlement of the Integrated Goods and Services Tax (IGST) due to the State.

The fund release brings relief to the State which is facing a financial crunch. The Union government had on Thursday authorised the release of ₹2,736 crore with respect to tax devolution to the State and ₹1,386 crore towards IGST settlement.

Finance Minister K.N. Balagopal said the fund release is not additional financial assistance to the State from the Centre. It constitutes tax shares that should normally flow to the State.

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