Crediting proceeds of cess to Fund (1) The proceeds of the cess leviable under section 8 and such other amounts as may be recommended by the Council, shall be credited...

Returns, payments and refunds (1) Every taxable person, making a taxable supply of goods or services or both, shall- (a) pay the amount of cess as payable under this Act...

Levy and collection of cess (1) There shall be levied a cess on such intra-State supplies of goods or services or both, as provided for in section 9 of the...

Calculation and release of compensation (1) The compensation under this Act shall be payable to any State during the transition period. (2) The compensation payable to a State shall be...

Projected revenue for any year The projected revenue for any year in a State shall be calculated by applying the projected growth rate over the base year revenue of that...

Base year revenue (1) Subject to the provision of sub-sections (2), (3), (4), (5) and (6), the base year revenue for a State shall be the sum of the revenue...

Base year For the purpose of calculating the compensation amount payable in any financial year during the transition period, the financial year ending 31st March, 2016, shall be taken as...

Projected growth rate The projected nominal growth rate of revenue subsumed for a State during the transition period shall be fourteen per cent. per annum. Prev | Index | Next...

Definitions (1) In this Act, unless the context otherwise requires,- (a) “central tax” means the central goods and services tax levied and collected under the Central Goods and Services Tax...

THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) Act, 2017 No. 15 of 2017 Dated: 12th April 2017 An Act to provide for compensation to the States for the loss...