📌One Hundred and First Amendment) Act
✔️As per the Constitution (One Hundred and First Amendment) Act, compensation on account of the implementation of GST will be available for a period of five years.
✔️Compensation beyond five years requires a constitutional amendment.
✔️ The GST Act says it is a law to provide for compensation to the States for the loss of revenue arising on account of the implementation of the GST for a period of five years or for such period as may be prescribed on the recommendation of the GST Council.
✔️Article 279A was inserted through the Constitution (One Hundred and First Amendment) Act.
✔️As per the Constitution (One Hundred and First Amendment) Act, compensation on account of the implementation of GST will be available for a period of five years.
✔️Compensation beyond five years requires a constitutional amendment.
✔️ The GST Act says it is a law to provide for compensation to the States for the loss of revenue arising on account of the implementation of the GST for a period of five years or for such period as may be prescribed on the recommendation of the GST Council.
✔️Article 279A was inserted through the Constitution (One Hundred and First Amendment) Act.