Section 10. Crediting proceeds of cess to Fund

{
    "act_title": "THE GOODS AND SERVICES TAX (COMPENSATION TO STATES) ACT, 2017",
    "act_slug": "the-goods-and-services-tax-compensation-to-states-act-2017",
    "section_label": "Section",
    "section": {
        "number": "10",
        "title": "Section 10. Crediting proceeds of cess to Fund",
        "chapter": null,
        "content": "10. Crediting proceeds of cess to Fund. (1) The proceeds of the cess levied 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 in the Public Account, and shall be utilised for the purpose of providing compensation to the States for the loss of revenue arising on account of implementation of the goods and services tax in pursuance of the provisions of the Constitution (One Hundred and First Amendment) Act, 2016.",
        "footnote": "",
        "is_definition": false,
        "sort_order": 600
    },
    "prev_section": "9",
    "next_section": "10"
}