GST Council IN ACTION

The 3rd Meeting of the GST Council from 18-20 October 2016

2. Modalities for compensation to the states for possible revenue loss:

(i) Definition of the term “Revenue”.

(ii) The formula for calculating the projected growth rate for compensation.

3. Provision for Cross-Empowerment to ensure Single Interface under GST:

(i) Distribution of taxpayers between States and Centre under GST regime;

(ii) Periodicity of review of the distribution;

(iii) Modalities for exercising information based enforcement action.

4. Finalisation of the bands of tax rates under GST Regime.

5. Delegation of powers to the Chairman, GST Council to constitute Technical Committees of

officers.