<h1>Amendment to GST Compensation Act: New Fund Distribution Rules and Terminology Update for 2018.</h1> The Goods and Services Tax (Compensation to States) Amendment Bill, 2018 proposes changes to the existing GST Compensation to States Act, 2017. The amendments include substituting the term 'Central Board of Excise and Customs' with 'Central Board of Indirect Taxes and Customs' and introducing a new sub-section to allow the distribution of unutilized funds between the Centre and States during any financial year. In case of a shortfall in the compensation fund, the shortfall will be recovered equally from the Centre and States based on their base year revenue. The Bill aims to ensure efficient fund distribution and compensation management.