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CALAMITY CESS
Budget 2026: Oil industry seeks abolition or review of OID cess on pre-NELP and nomination blocksAs the Union Budget 2026 approaches, the oil and gas sector is calling on the government to reconsider the OID cess imposed on domestically...- Bill to replace tobacco cess with new levy in winter sessionThe central government might present a bill during Parliament's winter session. This bill focuses on imposing a levy on tobacco products. I...
- Govt to monitor GST rate cuts to ensure relief reaches common man: MinisterThe finance ministry will closely monitor the implementation of reduced GST rates to ensure the relief reaches the common man, according to...
- GST Council retains 28% tax and cess on tobacco, sin goodsThe Union finance minister will decide on the date when the new tax rate for these items will be applicable. Currently, such products attra...
- Centre expects Rs 5.91 lakh cr from cess and surcharge in FY26The Finance Ministry anticipates collecting ₹5.91 lakh crore from cess and surcharge in the current fiscal year, marking a 9.43% increase f...
- Govt aims to collect Rs 4.18 lakh cr from cess, Rs 1.72 lakh cr from surcharge in FY26The central government anticipates increased revenue from cess and surcharges. The target is over Rs 4.18 lakh crore from cess and over Rs ...
- Smokey Affair: GST on cigarettes, tobacco products may be raisedIndia is considering raising the GST on cigarettes and tobacco products to 40% and adding an additional excise duty after compensation cess...
- GoM to look into Andhra Pradesh's demand for 1% calamity cess on luxe goodsThe GST Council will form a group of ministers (GoM) to explore Andhra Pradesh's request for a 1% calamity cess on luxury goods for disaste...
- Covid cess may face legal hurdles: ExpertsWhile the modality of the same is still not clear, the government is looking to introduce additional cess on current direct and indirect ta...
- Finance Ministry not considering calamity cess on GSTMinistry sources said that in the present economic scenario during the COVID-19 pandemic, any purported proposal of introducing a calamity ...
- GoM wants exemption limit for MSMEs to be increased, GST council yet to decideThe Group of Ministers under Modi has also suggested to the GST Council to allow additional borrowing over the permitted limit by states hi...
- GST ministerial panel favours Kerala levying 1% cess for 2 yearsThe Group of Ministers under Modi has also suggested to the GST Council to allow additional borrowing over the permitted limit by states hi...
- Ministerial panels on GST relief to MSMEs, levy of calamity cess to meet todayCurrently, businesses with annual turnover of up to Rs 20 lakh are exempt from the Goods and Services Tax (GST).
- Group of ministers says GST Council to seek states' views on 'disaster tax'"The GoM has decided that the GST Council will prepare a questionnaire and send to states for response..Out of the terms of reference of th...
- Imposition of calamity tax with GST not advisable: CAITThe Confederation of All India Traders (CAIT) in a statement said that any move to impose calamity tax with the GST will set a wrong preced...
- GST Council sets up GoM to review help for states hit by natural calamityJaitley said the GoM would also consider if the SDRF and NDRF mechanism were sufficient to address the issue or if more was needed to be do...
- GoM formed to look into Kerala's demand for calamity cess: JaitleyThe Council also reviewed revenue trends and deficit of states, he said, adding state deficit this year is 13 per cent and may reduce furth...
- Tax department to calculate GST's impact on inflationThis is being done to minimise price rise once the new indirect tax regime is rolled out, officials said.
- Hike in I-T exemption: Here are lesser known taxes that you will have to payBefore you celebrate the increase in exemption bestowed by the budget, go through the list of other, lesser known taxes that you will be re...
- Ministry tells FM to hurry up on 1% cigarette cessTHE commerce ministry has urged FM Jaswant Singh to act expediently on the budget proposal of a 1% cess on cigarettes and use the collectio...
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