Section 6 GST Compensation to States Act 2017

By | June 16, 2017
(Last Updated On: June 30, 2017)

Section 6 GST Compensation to States Act 2017

[ Section 6 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. ]

Projected revenue for any year.

6. 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 State.

IllustrationIf the base year revenue for 2015-16 for a concerned State calculated as per section 5 is one hundred rupees, then the projected revenue for financial year 2018-19 shall be as follows—

Projected Revenue for 2018-19-100 (1+14/100)3

Read All Sections of Goods And Services Tax (Compensation To States) Act, 2017 .

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