Projected nominal growth rate fixed for subsumed revenue during transition period under compensation framework for states. The projected nominal growth rate of revenue subsumed for a State during the transition period is prescribed as fourteen percent per annum under the draft compensation framework, establishing a uniform annual benchmark for calculating the nominal baseline used to determine compensation for loss of revenue during the transition to the new tax regime.
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Provisions expressly mentioned in the judgment/order text.
Projected nominal growth rate fixed for subsumed revenue during transition period under compensation framework for states.
The projected nominal growth rate of revenue subsumed for a State during the transition period is prescribed as fourteen percent per annum under the draft compensation framework, establishing a uniform annual benchmark for calculating the nominal baseline used to determine compensation for loss of revenue during the transition to the new tax regime.
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