COVID 19 CESS

Metro cess on property registrations in Mumbai, 3 Maharashtra cities back after COVID-19 break

Bhushan Gagrani, principal secretary (urban development), said the state government had taken a decision in February 2019 to levy one per cent metro cess on property purchases in four cities including Mumbai. But its implementation was stayed after a year due to the outbreak of COVID-19 in March 2020.

Optimising GST to Make It Deliver

The move towards a revenue-neutral rate is overdue and the collection forgone because of external events exerting a pressure on prices will make the case for compensating states that much stronger. That imposes its own set of complexities, because the compensation cess will, after June, go to paying loans taken by the Centre to make up for the shortfall in collection during the last two Covid-19 pandemic years. Compensation beyond the term set out in the original bargain with states will distort the tax structure further.

India exempts Covid-19 vaccine from import duty

"The Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods of the description specified when imported into India, from the whole of the duty of customs leviable," the Board said in a notification issued on September 29.

Big part of petroleum cess used for free vaccine, poor and various developmental schemes: Hardeep Puri

The government has justified high level of taxation on auto fuels suggesting that revenue from petroleum sector is important for running various developmental schemes but has refused to acknowledge the role played by higher prices of petrol and diesel in fuelling inflationary pressure on the economy.

GoM on Sikkim's demand to levy Covid cess to meet on June 17

A Group of Ministers set up to look into Sikkim's demand of levying Covid cess on power and pharmaceutical sectors will meet on June 17. According to an intimation notice issued by the finance ministry, the GoM created to examine the Sikkim government's proposal to levy the cess will meet on Thursday.

Customs duty waiver for Oxygen, Oxygen equipment and Covid19 vaccines

Modi asserted there was an immediate need to augment the supply of medical grade oxygen as well as equipment required for patient care both at home and in hospitals.

Over 70% industry respondents expect Budget to hike standard deduction limit: KPMG survey

A majority of respondents in the survey believe that with the government facing the prospect of significantly increased expenditure in the coming year, the revenue needs can be met through increased collections fuelled by an economic recovery as well as by improved technology-driven enforcement, rather than through the introduction of new taxes.

Why FM should not bring in any new tax in this budget

Any additional burden on existing taxpayers or any new taxes like wealth tax/estate duty, which were discontinued earlier for reasons of high administrative costs and low revenue yield, may not be in sync. The mantra for the FM in Budget 2021 should be ‘No New Tax’.

Covid cess may face legal hurdles: Experts

While the modality of the same is still not clear, the government is looking to introduce additional cess on current direct and indirect taxes to fund the cost of Covid vaccination through the cess. This would mean that the Covid-19 cess would be applicable on income tax as well as on goods and services rax (GST).

Goa government issues Rs 156-crore demand notice to JSW Steel

The notice said that the company representative may face punishment with imprisonment of two years or fine of Rs 25,000 if the cess is not paid.

To tide over the burden: Covid vaccines to be spared from Covid cess

“Whatever money that we require we do not require upfront. It will be required in the same staggered manner in which you are vaccinating the people. Hence, there is no question of imposing a cess,” a senior official told ET.

GST Council meeting today; Centre, states headed for another showdown on compensation cess

GST: 12 states accept centre’s Rs 97,000 crore borrowing option

Six more states - Goa, Assam, Arunachal Pradesh, Nagaland, Mizoram and Himachal Pradesh - will be giving their option in a day or two, finance ministry sources said.

Thrusting GST debt on states will lead to 'brute power of centralism': Bengal FM

In the 41st meeting of GST council on August 27, Union Finance Minister Nirmala Sitharaman said that the COVID-19 pandemic is an "act of God" which has hit GST collection and ruled out paying compensation to states from its coffers.

41st GST Council meet: Covid makes for grim backdrop as battle brews over revenue sharing

The Council’s 41st meeting on August 27 would discuss a single matter: compensation to states for revenue losses under the indirect tax regime.

Punjab government imposes COVID cess on liquor

The move will help the state to mobilise additional revenue of Rs 145 crore in the current fiscal.

Liquor not a fundamental right, special 70% levy is privilege price, Delhi govt tells HC

The Delhi government opposed a batch of petitions challenging its May 4 notification levying the 'special corona fees' on liquor, and said there was an element of privilege viz-a-viz sale/dealing in liquor and the state is free to regulate it under the excise law. Accordingly the state is also free to impose and recover a price for grant of such privilege.

Tough times need tough solutions: Manish Sisodia tweets on hike in fuel prices, cess on liquor

Nagaland impose Covid-19 cess on petrol and diesel sales

While Nagaland is the first state to impose a Covid-specific cess, Assam recently increased taxes on petrol by Rs 6 and on diesel by Rs 5, while Meghalaya is charging sales tax surcharge on motor spirit such as petrol at 2%.

Nagaland levies COVID-19 cess of Rs 5 per litre for diesel and Rs 6 for petrol and motor spirit

This notification shall come into force with effect from midnight of April 28.

Realtors urge Maharashtra govt to pay workers from labour cess

Last month, the labour ministry had said around Rs52,000 crore was available, which could be distributed to Rs3.5 crore registered workers.

Govt exempts customs duty, cess on ventilators, surgical masks, PPE, Covid-19 test kits

“In the context of Covid-19 situation, considering the immediate requirement of ventilators and other items, the Central Government has granted exemption from Basic Customs Duty and Health cess, on the import of these goods, with immediate effect,” the government said in a statement late Thursday evening.

Rs 3000 crore given to 2 crore registered construction workers: MHA

In 31 states/UTs, cash benefits of Rs 1000 to Rs 6000 have been announced for registered construction workers under Building&Other Construction Workers' Welfare Cess Fund.