TMI BlogBalance claim of States under GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... Balance claim of States under GST - Goods and Services Tax - GST Dated:- 28-3-2018 - News - The Government is providing claims to the States under GST. As per provisions in Section 7 of the GST (Compensation to States) Act, 2017 loss of revenue to the States shall be calculated and compensation for loss of revenue to the State shall be provisionally calculated and released at the end of ever ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y two months period. As per Section 4 of the said Act, financial year 2015-16 has been taken as the base year for calculating compensation amount payable to States for loss of revenue during transition period. The projected nominal growth rate of revenue subsumed for a state during the transition period shall be 14% per annum. On this basis, the revenue loss due to implementation of GST to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e states for the month of July, 2017 to February, 2018 has been estimated and accordingly, GST Compensation paid to the States/ UTs on bimonthly basis for the period of July 2017 to February, 2018 as below:- Period Amount of GST compensation paid (Rs. in crore) July Aug, 2017 10806 Sept Oct, 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7 13694 Nov- Dec, 2017 3898 Jan Feb, 2018 11495 Total 39893 This was stated by Shri Rajiv Pratap Shukla, Minister of State for Finance in written reply to a question in Rajya Sabha. - News - Press release - PIB Tax Management India - taxmanageme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
