Section 4 GST Compensation to States Act 2017
[ Section 4 GST Compensation to States Act 2017 notified w.e.f 01.07.2017 vide Notification No. 1/2017 – Goods and Services Tax Compensation Dated 28th June, 2017 ]
[ Goods And Services Tax (Compensation To States) Act, 2017 . This Act has been assented by the President of India on 12-4-2017. This is an Act to provide for compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax in pursuance of the provisions of the Constitution (One Hundred and First Amendment) Act, 2016. ]
4. 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 the base year.