Base year revenue.
Section 5
GST
GST (COMPENSATION TO STATES)
Goods And Services Tax (Compensation To States) Act, 2017
Base year revenue.
5. (1) Subject to the provision of sub-sections (2), (3), (4), (5) and (6), the base year revenue for a State shall be the sum of the revenue collected by the State and the local bodies during the base year, on account of the taxes levied by the respective State or Union and net of refunds, with respect to the following taxes, imposed by the respective State or Union, which are subsumed into goods and services tax, namely:
(a) the value added tax, sales tax, purchase tax, tax collected on works contract, or any other tax levied by the concerned State under the erstwhile entry 54 of Lis
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
tion;
(f) the duties of excise on medicinal and toilet preparations levied by the Union but collected and retained by the concerned State Government under the erstwhile article 268 of the Constitution;
(g) any cess or surcharge or fee leviable under entry 66 read with entries 52, 54, 55 and 62 of List-II of the Seventh Schedule to the Constitution by the State Government under any Act notified under sub-section (4),
prior to the commencement of the provisions of the Constitution (One Hundred and First Amendment) Act, 2016:
Provided that the revenue collected during the base year in a State, net of refunds, under the following taxes shall not be included in the calculation of the base year revenue for that State, namely:-
(a) any taxe
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
of petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas, aviation turbine fuel and alcoholic liquor for human consumption; and
(d) the entertainment tax levied by the State but collected by local bodies, under any Act enacted under the erstwhile entry 62 of List-II (State List) of the Seventh Schedule to the Constitution, prior to coming into force of the provisions of the Constitution (One Hundred and First Amendment) Act, 2016.
(2) In respect of the State of Jammu and Kashmir, the base year revenue shall include the amount of tax collected on sale of services by the said State Government during the base year.
(3) In respect of the States mentioned in sub-clause (g) of clause (4) of article 279A of t
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =