Goods And Services Tax (Compensation To States) Act, 2017
Section 6 - Projected revenue for any year
Section 6 - How to Calculate Projected Revenue for Any Year
This section explains how to determine the projected revenue for a specific year for a state. To calculate this, you apply the projected growth rate to the revenue from the base year for that state. For example, if the base year revenue for a state in 2015-16 is 100 rupees, and you want to find the projected revenue for the financial year 2018-19, you would use the formula: Projected Revenue for 2018-19 = 100 (1 + 14/100)^3. This means you increase the base year revenue by the growth rate each year for three years to get the projected revenue for 2018-19.
Note: It is an AI generated summary for reference purpose only.
6. Projected revenue for any year
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 year2018-19 shall be as follows-
