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CESS ON DEMERIT GOODS
Compensation cess: GoM may seek more time to submit reportA group of ministers (GoM) will likely request the GST Council to extend the December 31 deadline for their report on compensation cess by ...14 Dec, 2024, 12.28 AM IST- ITC shares fall 3% as GST on cigarettes may be hiked to 35%ITC share price: Shares of companies like ITC and Godfrey Phillips fell as the GoM decided to increase GST on tobacco and aerated beverages...03 Dec, 2024, 10.08 AM IST
- GST Compensation Cess Future: Group of Ministers proposes merger with taxesThe GoM on GST discussed merging compensation cess with GST. States suggested no new items should be added during this transition. Compensa...16 Oct, 2024, 03.42 PM IST
- End of GST compensation cess may not be blessing for 'sin taxed'Cigarettes, tobacco products, carbonated drinks, and high-end automobiles in the 28% GST slab might see a rise in taxation as a cess ends i...03 Oct, 2024, 07.08 PM IST
- MoS Finance likely to be convenor of GoM on GST compensation cessA Group of Ministers led by Union Minister Pankaj Chaudhary will rework the GST compensation cess nomenclature. The panel will suggest how ...15 Sep, 2024, 11.55 AM IST
- GST Council to discuss on apportioning, renaming compensation cess beyond March 2026The GST Council will discuss the future of the compensation cess on luxury and demerit goods collected to repay loans taken by the Indian g...09 Oct, 2023, 03.25 PM IST
- GST council to meet on June 28-29 in SrinagarThe council meeting assumes significance as it is expected to discuss the report of the panel of state ministers on rate rationalisation an...16 Jun, 2022, 05.23 PM IST
- Many states request GST compensation extension beyond 5 years: FM Nirmala SitharamanThe shortfall is calculated assuming a 14 per cent annual growth in GST collections by states over the base year of 2015-16. The 5-year per...14 Mar, 2022, 03.01 PM IST
- Cess to yield Rs 55,000 crore in first 9 months of GST rolloutThe amount to be raised through cess on coal as well as luxury items and sin goods will be used for compensating states for revenue shortfa...29 May, 2017, 03.39 PM IST
- Government wants 28 per cent tax on all tobacco productsThe ministry, which has favoured higher taxes on all tobacco products for long, also highlighted that tiered tax structure for cigarettes n...11 Apr, 2017, 08.08 AM IST
- GST Council caps cess on demerit goods at 15%The 15 per cent cess cap would apply on luxury cars and aerated drinks. On pan masala, the cess has been capped at 135 per cent ad valorem.16 Mar, 2017, 08.58 PM IST
- GST Council may clear supplementary legislations tomorrowThe S-GST, which will allow states to levy the tax after VAT and other state levies are subsumed in the GST, will have to be passed by each...15 Mar, 2017, 07.06 PM IST
- 4-tier GST rate may lead to classification disputes: StudyA research by National Institute of Public Finance and Policy professor pointed out there is discussion in the GST Council that there will ...13 Feb, 2017, 04.39 PM IST
- Levying cess on more items could make GST anomalous: ExpertsThe GST Council hearing out concerns of specific industry representatives is a welcome move adding suggestions like centralised registratio...03 Jan, 2017, 09.44 PM IST
- Centre circulates draft GST law with statesThe GST Council will have to clear Central GST (CGST), Integrated GST (IGST) and the compensation bills before they can be introduced in th...16 Nov, 2016, 08.32 PM IST
- GST Compensation Bill to detail revenue foregone by statesThe Compensation Bill will provide a legal backing to the Centre's promise to compensate the states if their revenue growth rate falls belo...06 Nov, 2016, 01.41 PM IST
- Over time there should be convergence in GST rates: Naushad Forbes, CII“We should see that the cess is indeed limited only to demerit goods”04 Nov, 2016, 09.30 AM IST
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