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GST: Maha stares at Rs 30k-cr income loss
The Goods and Services Tax (GST) Act guarantees states bi-monthly compensation for any loss of revenue in the first five years of its implementation. The shortfall is calculated assuming a 14 per cent annual growth in GST collections by the states over the base year of FY16. The five-year period ends in June 2022 as the uniform tax regime was rolled out from July 1, 2017.