THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) ACT, 2017
[NO. 15 OF 2017]
[ Assented by the President of India on 12-4-2017. ]
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 .
Be it enacted by Parliament in the Sixty-eighth Year of the Republic of India as follows:—
Section – 1 Short title, extent and commencement.
Section – 3 Projected growth rate
Section – 5 Base year revenue.
Section – 6 Projected revenue for any year.
Section – 7 Calculation and release of compensation.
Section – 8 Levy and collection of cess.
Section – 9 Returns, payments and refunds.
Section – 10 Crediting proceeds of cess to Fund
Section – 11 Other provisions relating to cess.
Section 12 Power to make rules.
Section 13 Laying of rules before Parliament.