BENGALURU: In a relief to the state in times of financial crisis, Karnataka has received Rs 1,400 crore in IGST settlement for the month of September.While many states like Telangana, AP, Tamil Nadu, Maharashtra, Punjab, Madhya Pradesh, Rajasthan and Chhattisgarh have reported short credit of IGST, officials in the Karnataka Finance Department said that the state received its regular settlement of Rs 1,400 crore of the Rs 24,000 crore pending IGST payments announced by Finance Minister Nirmala Sitharaman on Monday.
“This (shortfall) relates to states that are entitled to IGST settlement due to 2017-18 miscalculation. Karnataka was not eligible for any settlement in this. However, regular IGST settlement of Rs 1,400 crore for September has been received for Karnataka,” said Additional Chief Secretary, Finance Department ISN Prasad. In the 42nd GST Council meeting, Home Minister and Karnataka’s representative Basavaraj Bommai had requested immediate release of the IGST settlement.