December 14, 2018

IGST ACT

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

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 GST COMPENSATION CESS

9. RETURNS, PAYMENTS AND REFUNDS

10. CREDITING PROCEEDS OF CESS TO GST COMPENSATION FUND

11. OTHER PROVISIONS RELATING TO CESS

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