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Section 18. Compensation to States for loss of revenue on account of introduction of goods and services tax.

by | Sep 16, 2024 | GST, Acts, Constitution (One Hundred And First Amendment) Act, 2016 | 0 comments

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Important Keyword: Section 18.

GST Section 18. Compensation to States for loss of revenue on account of introduction of goods and services tax.

Parliament shall, by law, on the recommendation of the Goods and Services Tax Council, provide for compensation to the States for loss of revenue arising on account of implementation of the goods and services tax for a period of five years.

Read More: Notification No. 15/2018 – Central Tax (Rate) GST: Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to specify services supplied by individual Direct Selling Agents (DSAs) to banks/ non-banking financial company (NBFCs) to be taxed under Reverse Charge Mechanism (RCM).

Web Stories: Notification No. 15/2018 – Central Tax (Rate) GST: Seeks to amend notification No. 13/2017- Central Tax (Rate) so as to specify services supplied by individual Direct Selling Agents (DSAs) to banks/ non-banking financial company (NBFCs) to be taxed under Reverse Charge Mechanism (RCM).

Download Pdf: https://taxinformation.cbic.gov.in/