Act Number: 15

Act Name: The Goods and Services Tax (Compensation to States) Act, 2017

Year: 2017

Enactment Date: 2017-04-12

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Revenue

Section 6: 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 State.
     Illustration.--If 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.
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