47th GST Meeting: Apportionment of IGST of INR 27,000 crores and release of 50% to the States

The GST Council’s 47th meeting was held in Chandigarh on June 28th and 29th, 2022 under the chairmanship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The GST Council has inter-alia approved ad-hoc apportionment of Integrated Goods and Services Tax (“IGST”) to the extent of INR 27,000 crores and release of 50% of the amount to the States (i.e. INR 13,500 crores).

The Press release can be accessed at - https://www.pib.gov.in/PressReleasePage.aspx?PRID=1838020