LawgistThe Goods and Services Tax (Compensation to States) Act
4Base year
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.
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All sections
- 1 Short title, extent and commencement
- 2 Definitions
- 3 Projected growth rate
- 4 Base year
- 5 Base year revenue
- 6 Projected revenue for any year
- 7 Calculation and release of compensation
- 8 Levy and collection of cess
- 9 Returns, payments and refunds
- 10 Crediting proceeds of cess to Fund
- 11 Other provisions relating to cess
- 12 Power to make rules
- 13 Laying of rules before Parliament
- 14 Power to remove difficulties
