TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Goods and Services Tax Act 2017: Provisional compensation to states adjusted annually based on audited revenues. Excess refunded to Central Government.</h1> The Goods and Services Tax (Compensation to States) Act, 2017 outlines the mechanism for calculating and releasing compensation to states during the transition period. Compensation is provisionally calculated and disbursed every two months, with final calculations made annually based on audited revenue figures. If excess compensation is paid, it is adjusted in the following year. Compensation is determined by comparing projected revenue without GST to actual revenue collected, including state and integrated GST, net of refunds. Any discrepancies between provisional and final compensation are adjusted in subsequent years. Excess amounts released must be refunded to the Central Government.
TaxTMI 
TaxTMI 
