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<h1>Understanding Projected Revenue Calculation Under Goods and Services Tax Act, 2017: A Simple Formula Explanation</h1> The Goods and Services Tax (Compensation to States) Act, 2017 outlines the method for calculating projected revenue for any year in a state. This is done by applying a projected growth rate to the base year revenue of the state. For example, if the base year revenue for 2015-16 is one hundred rupees, the projected revenue for the financial year 2018-19 would be calculated using the formula: Projected Revenue for 2018-19 = 100 x (1 + 14/100)^3.