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NEW DELHI: Finance minister Nirmala Sitharaman on Wednesday rejected the criticism by states over cesses and surcharges, arguing that it was in line with the Constitutional provisions and the money collected through these levies was spent on schemes that benefited the states.While responding to the discussion on the Budget in the Lok Sabha, FM said…
Despite collecting a cess specifically for health, the Centre’s spending on health is now lower than it was before the cess was imposed, both as a share of the total budget and as a proportion of the GDP.Before the health cess was introduced in 2018, the allocation for health was 2.4% of total govt expenditure…
Union finance minister Nirmala Sitharaman in Lok Sabha NEW DELHI: Govt does not wish for India to ever face UPA-era shortages of weapons, ammunition and equipment again, and wants a steady flow of revenue to keep its defence capabilities ready to meet the needs of modern warfare, finance minister Nirmala Sitharaman said Friday as Lok…
NEW DELHI: With the beginning of the Winter Session of Parliament on Monday, the government is set to table two key bills in the Lok Sabha proposing an excise duty on sin goods, like tobacco and tobacco products, and another introducing a new cess on the manufacturing of pan masala. What is Central Excise (Amendment)…
NEW DELHI: The Centre is set to levy a new cess on tobacco, tobacco products and pan masala after the phaseout of GST compensation cess to ensure that price of these products do not fall as they are sin goods.At the time of GST revamp, govt had announced continuation of compensation cess only for tobacco…
NEW DELHI: Car dealers are looking at options to set off the impact of withdrawal of GST compensation cess on their bottomlines, with some of them contemplating legal challenge to the move.While restructuring GST, the GST Council decided to increase the rate from 28% to 40% but withdrew the cess on cars that ranged from…
