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of <h1>Understanding Base Year Revenue Under GST Compensation Act, 2016: Key Inclusions and Exclusions Explained</h1> The base year revenue for a State under the GST Compensation Act, 2016, includes revenue collected from various taxes subsumed into the Goods and Services Tax (GST), such as VAT, sales tax, and excise duties, net of refunds. It excludes revenue from taxes on petroleum, alcohol, and certain entertainment taxes. For Jammu and Kashmir, service tax is included, and for certain States, revenue foregone due to exemptions for industrial investment is considered. Revenue figures are audited by the Comptroller and Auditor General of India, and any uncredited revenues are included in the base year revenue, subject to prescribed conditions.
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