The Goods and Services Tax (Compensation To States)Act, 2017
madhya-pradesh · 2017
The scanned source for this Act is imperfect — headings or section boundaries may be off. Verify against the official source.
- S. 1(1) This Act may be called the Goods and Services Tax (Compensation to States) Act, 2017
- S. 2Section 2 defines key terms used in the Goods and Services Tax (Compensation To States) Act, 2017.
- S. 3Coal, briquettes, ovoids and 2701, 2702 or 2703 Four hundred rupees per similar solid fuels manufac- tonne
- S. 4Section 4 sets the financial year ending March 2016 as the base year for calculating compensation during the transition period.
- S. 5Section 5 defines the base year revenue for a State under the GST Compensation Act, 2017, considering various pre-GST taxes and levies.
- S. 6Any other supplies
- S. 7(1) The compensation under this Act shall be payable to any State during the transition period
- S. 8Section 8 imposes a cess on intra-State and inter-State supplies of goods and services to compensate states for revenue loss due to GST implementation.
- S. 9Section 9 outlines procedures for taxable persons to pay cess, file returns, and claim refunds under the Goods and Services Tax (Compensation To States) Act.
- S. 10Section 10 establishes a compensation fund for states, utilizing cess proceeds and other recommended amounts, with half transferred to the Centre and half distributed among states based on their tax revenues.
- S. 11Section 11 applies central and integrated GST rules to the collection and regulation of a state-specific cess on intra- and inter-State supplies.
- S. 12Section 12 outlines the Central Government's authority to create rules for implementing the compensation provisions of the Act.
- S. 13Section 13 mandates rules made by the Central Government under the Act to be presented to Parliament for a 30-day review period.
- S. 14Section 14 allows the Central Government to address difficulties in implementing the Act for three years, with orders laid before Parliament.
- S. 2016Section 2016 outlines compensation provisions for states under the Goods and Services Tax (Compensation To States) Act, 2017.