The Goods and Services Tax (Compensation to States) Act, 2017
Section 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 year 2018-19 shall be as follows---
Projected Revenue for 2018-19=100 (1+14/100)3.
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
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