GST Compensation Bill (to states) Summary

The Goods and Services Tax (Compensation to States) Bill, 2017 was introduced in Lok Sabha on March 27, 2017.  The Bill provides for compensation to states for any loss in revenue due to the implementation of GST. Period of compensation: Compensation will be provided to a state for a period of five years from the date on which the state brings its State GST Act into force. Projected growth ra…