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BASE YEAR REVENUE

Section 5 - Draft-Bills-Reports - GST - Compensation to the States for Loss of Revenue - Draft - Goods and Services Tax (Compensation to the States for Loss of Revenue) Act, 2016 - [November 2016] - Section 5 - 5. (1) Subject to the provision of sub-sections (2), (3) (4) and (5) the for a State shall be the sum of the revenue collected by the State and local bodies during the base year, on account of the taxes levied by the respective State or Centre, net of refunds, with respect to the followin .....

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ct, 1956; (c) Entry tax, octroi, local body tax or any other tax levied by the concerned State under the erstwhile Entry 52 of List-II (State List) of the Seventh Schedule to the Constitution, prior to bringing into effect the provisions of the Constitution (One Hundred and First Amendment) Act, 2016; (d) Taxes on luxuries, including taxes on entertainments, amusements, betting and gambling or any other tax levied by the concerned State under the erstwhile Entry 62 of List-II (State List) of the .....

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he Union but collected and retained by the concerned State Government under the erstwhile Article 268 of the Constitution, prior to bringing into effect the provisions of the Constitution (One Hundred and First Amendment) Act, 2016; and (g) Any cess or surcharge levied by the State Government under any Act which is included in the definition of earlier laws as per section 2(39) of the State Goods and Services Act of the concerned State. (2) The Acts of the Central and State Governments under whi .....

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) Act, 2016, on the sale or purchase of petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas, aviation turbine fuel and alcoholic liquor for human consumption; (b) Any taxes levied under the Central Sales Tax Act, 1956 (74 of 1956) on the sale or purchase of petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas, aviation turbine fuel and alcoholic liquor for human consumption; (c) Any cess imposed by the State Government on t .....

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