Answer: Five
Notes: Goods and Services Tax was introduced in the country with effect from July 1, 2017. The states were assured for compensation for loss of any revenue arising on account of implementation of GST as per the provisions of the GST (Compensation to States) Act, 2017 for a period of five years. Centre has recently released Rs 17,000 crore to States and Union Territories as balance compensation for goods and services tax (GST) for the period, April-June 2022.
