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of <h1>Projected Revenue Calculations Under GST Act 2016: Growth Rate Applied to Base Year for State Compensation</h1> The projected revenue for any year in a state is determined by applying the projected growth rate to the base year revenue of that state. For example, if the base year revenue for 2015-16 is 100, the projected revenue for the financial year 2018-19 will be calculated using this base figure and the applicable growth rate. This provision is part of the Goods and Services Tax (Compensation to the States for Loss of Revenue) Act, 2016, which aims to compensate states for potential revenue losses due to the implementation of GST.
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