The Goods and Services Tax (Compensation to States) Act

Short title, extent and commencement

Definitions

Projected growth rate

Base year

Base year revenue

Projected revenue for any year

Calculation and release of compensation

Levy and collection of cess

Returns, payments and refunds

Crediting proceeds of cess to Fund

Other provisions relating to cess

Power to make rules

Laying of rules before Parliament

Power to remove difficulties

All sections

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.


LAWGIST

# 6 Projected revenue for any year