Goods and Services Tax was introduced in the country with effect from July 1, 2017 and states were assured compensation for loss of any revenue arising on account of the implementation of GST as per the provisions of the GST (Compensation to States) Act, 2017 for a period of five years.
Goods and Services Tax was introduced in the country with effect from July 1, 2017 and states were assured for compensation for loss of any revenue arising on account of implementation of GST as per the provisions of the GST (Compensation to States) Act, 2017 for a period of five years.
New Delhi [India], April 27 (ANI): The Ministry of Finance on Wednesday said that it has released Rs 2.78 lakh crore GST compensation to the states for the year 2020-21 saying that "nothing is pending for the year".