The Maharashtra Goods and Services Tax (Compensation to the Local Authorities) Act, 2017
The Maharashtra Goods and Services Tax (Compensation to the Local Authorities) Act, 2017
Tax201711 sections
This Act provides financial compensation to local authorities in Maharashtra following the implementation of the Goods and Services Tax, which abolished traditional taxes like octroi and local body tax. It applies specifically to the Municipal Corporation of Brihan Mumbai and other local bodies, ensuring they do not suffer revenue loss due to the shift in tax structure. The compensation is calculated based on the revenue collected in a base year prior to GST and projected growth rates, ensuring these local governments have stable funding to continue their civic functions.
- 1. Short title, extent and commencement.
- 2. Definitions.
- 3. Projected growth rate.
- 4. Base year.
- 5. Base year revenue.
- 6. Projected revenue for first year.
- 7. Projected revenue for any other year.
- 8. Calculation and release of compensation.
- 9. Amendment of Schedule.
- 10. Power to make rules.
- 11. Power to remove difficulties.
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