In which of the following years was the Goods and Services Tax (Compensation to States) Bill passed?
Show answer & explanation
Correct answer: A
Explanation
The correct answer in option 1 i.e. 2017.
The Goods and Services Tax (Compensation to States) Bill was passed in 2017. It was introduced in the Lok Sabha on March 27, 2017, and subsequently passed by the Lok Sabha on March 29, 2017, followed by Rajya Sabha approval on April 6, 2017. This legislation established a fund—financed by a special cess—to compensate states for any revenue loss arising from the transition to the unified GST regime. It remained in effect for a five-year period aligned with the rollout timeline of July 2017.