{"act":{"id":"goods-services-tax-compensation-states-act-2017-madhya-pradesh","short_title":"The Goods and Services Tax (Compensation To States) Act, 2017","long_title":null,"act_number":"15","act_year":2017,"enact_date":null,"enforcement_date":null,"ministry":null,"department":null,"jurisdiction":"Madhya Pradesh","unit":"section","section_count":14,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":"goods-services-tax-compensation-states-act-2017","text_source":"ocr","scan_url":"https://indiacode.ecourtsindia.com/scan/e97cb548-a951-4f19-ad2d-568fdedd7a2c.pdf","url":"https://indiacode.ecourtsindia.com/goods-services-tax-compensation-states-act-2017-madhya-pradesh/"},"unit":"section","section":{"number":"10","heading":null,"text":"(1) The proceeds of the cess leviable under section 8 and such other amounts as may be recommended by the Council, shall be credited to a non-lapsable Fund known as the Goods and Services Tax Compensation Fund, which shall form part of the public account of India and shall be utilised for purposes specified in the said section. (2) All amounts payable to the States under section 7 shall be paid out of the Fund. (3) Fifty per cent. of the amount remaining unutilised in the Fund at the end of the transition period shall be transferred to the Consolidated Fund of India as the share of Centre, and the balance fifty per cent. shall be distributed amongst the States in the ratio of their total revenues from the State tax or the Union territory goods and services tax, as the case may be, in the last year of the transition period. (4) The accounts relating to Fund shall be audited by the Comptroller and Auditor- General of India or any person appointed by him at such intervals as may be specified by him and any expenditure in connection with such audit shall be payable by the Central Government to the Comptroller and Auditor-General of India. (5) The accounts of the Fund, as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf together with the audit report thereon shall be laid before each House of Parliament. 51 of 1975. 52 of 1962. Returns, payments and refunds.","html":"

(1) The proceeds of the cess leviable under section 8 and such other amounts as may be recommended by the Council, shall be credited to a non-lapsable Fund known as the Goods and Services Tax Compensation Fund, which shall form part of the public account of India and shall be utilised for purposes specified in the said section. (2) All amounts payable to the States under section 7 shall be paid out of the Fund. (3) Fifty per cent. of the amount remaining unutilised in the Fund at the end of the transition period shall be transferred to the Consolidated Fund of India as the share of Centre, and the balance fifty per cent. shall be distributed amongst the States in the ratio of their total revenues from the State tax or the Union territory goods and services tax, as the case may be, in the last year of the transition period. (4) The accounts relating to Fund shall be audited by the Comptroller and Auditor- General of India or any person appointed by him at such intervals as may be specified by him and any expenditure in connection with such audit shall be payable by the Central Government to the Comptroller and Auditor-General of India. (5) The accounts of the Fund, as certified by the Comptroller and Auditor-General of India or any other person appointed by him in this behalf together with the audit report thereon shall be laid before each House of Parliament. 51 of 1975. 52 of 1962. Returns, payments and refunds.

","words":255,"text_source":"ocr"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/goods-services-tax-compensation-states-act-2017-madhya-pradesh/section/10/","note":null,"source_note":"Read from the Government's own scanned gazette with Azure Document Intelligence, then split into sections by their numbering. India Code publishes no text for this Act. The scan itself is mirrored into our own storage and served at /scan/e97cb548-a951-4f19-ad2d-568fdedd7a2c.pdf, so the reading here can be checked against the page it came from without depending on India Code's own copy staying where it is (it was at https://indiacode.gov.in/server/api/core/bitstreams/39a41129-f024-41a3-a9cc-7528e3b09807/content).","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}