Answer the following with reference to GST (compensation to states) Act, 2017: Projected Revenue for any year.
CS Professional · Advanced Tax Laws and Practice · PYQS · June 2018
Answer the following with reference to GST (compensation to states) Act, 2017: Projected Revenue for any year.
Answer & Explanation:
The projected revenue for any year in a State shall be calculated by applying the projected growth rate over the base year revenue of that State. Illustration: If the base year revenue for 2015-16 for a concerned State, calculated as per section 5 is one hundred rupees, then the projected revenue for financial year 2018-19 shall be as follows: Projected Revenue for 2018-19 = 100 (1+14/100) 3 .
Topics: GST (Compensation to States) Act, 2017
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