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of <h1>Understanding Base Year Revenue Under GST (Compensation to States) Act, 2017: Key Inclusions and Exclusions Explained</h1> The base year revenue for a State, under the Goods and Services Tax (Compensation to States) Act, 2017, is the sum of revenues collected by the State and local bodies from taxes subsumed into GST, net of refunds. These taxes include value-added tax, central sales tax, entry tax, and others as per the State List of the Constitution. Exclusions include taxes on petroleum products, alcohol, and entertainment taxes collected by local bodies. For Jammu and Kashmir, service tax revenue is included. Revenue foregone due to exemptions for industrial promotion is also considered. The calculation is based on audited figures, and uncredited revenues are included under prescribed conditions.
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