GOODS AND SERVICES TAX (COMPENSATION TO THE
STATES FOR LOSS OF REVENUE) BILL, 2016
(No. __ of 2016)
[__th ______, 2016]
A Bill to provide for compensation to the States for loss of revenue arising on account of implementation of the goods and services tax for a period of five years as per Section 18 of The Constitution (One Hundred and First Amendment) Act, 2016.
BE it enacted by Parliament in the Sixty-seventh Year of the Republic of India as follows:–
1. SHORT TILE AND COMMENCEMENT
(1) This Act may be called the Goods and Services Tax (Compensation to the States for Loss of Revenue) Act, 2016.
(2) It extends to the whole of India.
(3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint in this behalf.
