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of <h1>Funds from GST Cess Credited to Compensation Fund; Unused Balances Shared Post-Transition Under Sections 7 & 8.</h1> Proceeds from the cess under section 8 of the Goods and Services Tax (Compensation to States) Act, 2017, along with other recommended amounts, are credited to the Goods and Services Tax Compensation Fund. This non-lapsable fund is part of India's public account and is used for specified purposes. Payments to states under section 7 are made from this fund. At the end of the transition period, any unutilized funds are split equally between the Consolidated Fund of India and the states, based on their revenue ratios. The fund's accounts are audited by the Comptroller and Auditor-General of India, with reports presented to Parliament.
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