<h1>GST Amendment Bill: States to Get Compensation for Revenue Losses for Up to 5 Years Based on GST Council Advice.</h1> The GST Constitutional Amendment Bill includes provisions for compensating states for revenue losses due to the new tax regime, as confirmed by the Minister of State for Finance. The Bill allows Parliament to provide compensation for up to five years, based on GST Council recommendations. Introduced in December 2014, the GST aims to launch in April 2016, excluding liquor but eventually including petroleum products. The phasing out of the Central Sales Tax (CST) involves a rate reduction and compensation for states, with full compensation for 2010-11, 75% for 2011-12, and 50% for 2012-13.