Tag: cess

Liquor to cost less in Telangana as special cess removed

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Hyderabad: The Telangana government on Friday has given a sign of approval for the proposition of the Telangana State Beverages Corporation Limited to decrease the current Exceptional price of Indian Made Foreign Liquor (IMFL) and Foreign Liquor (other than beer).
Beginning on Friday, the stocks shipped from the bottling units will be subject to the revised Securities and Exchange Commission (SEC) rates.
The revised rates anticipate a reduction of Rs.10 on liquor bottles of 90 and 180 millilitres (ml), Rs.20 on bottles of 375 ml, and Rs.40 on bottles of 750 ml.

As of Friday, the liquor manufactured that is still in depots or stores, which includes stock in transit and waiting trucks before the depots, will be sold at the current MRP.
At a teleconference with officials on Friday, Prohibition and Excise Commissioner Sarfaraz Ahmad stated that the liquor manufactured from May 5, 2023, is directed to bear price stickers with new MRP and sold at new rates.
The commissioner further ordered to display of a new MRP in all wine retailers.
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#Liquor #cost #Telangana #special #cess #removed
( With inputs from www.siasat.com )

May 6, 2023
Total amount of cess and surcharge grew by 63.74% from 2017-18 to 2022-23

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New Delhi: The total amount of cess and surcharge grew by 63.74 percent from 2017-18 to 2022-23 (RE), the Parliament was told on Monday.
Collections under GST Compensation Cess grew by 107.6 percent from 2017-18 to 2022-23 (RE), Finance Minister Nirmala Sitharaman told the Lok Sabha in a written reply.
The Minister saidthat in the case of GST Compensation Cess, the proceeds of the cess leviable is initially credited to the Consolidated Fund of India, in terms of Article 266 of the Constitution, and the funds are provided to the States/UTs through GST Compensation Fund created in Public Account of India as per provisions of the GST Compensation Act, 2017.
In 2022-23, despite the collection of Rs 1,15,650 crore (till February 2022), a total amount of Rs 1,49,168 was released to the states/UTs. Further, during the FY(s) 2020-21 and 2021-22, the Union Government decided to borrow an amount of Rs 1.1 lakh crore and Rs 1.59 lakh crore to meet the shortfall in GST Compensation Cess collections and transferred the amount to the states as back-to-back loan to strengthen the states’ resources, the reply added.
The surcharges levied by the government are not meant for any specific purpose. These are used, in general, for various activities of the government including public health, subsidies, education, interest payments, defence etc, added the reply.
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#Total #amount #cess #surcharge #grew
( With inputs from www.siasat.com )

March 27, 2023
Entire Rs 16,982 cr GST compensation cess to states to be cleared: FM

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New Delhi: Finance Minister Nirmala Sitharaman said on Saturday that the entire GST compensation cess for June 2022 totalling Rs 16,982 crore will be cleared.
She said this while addressing a press conference soon after the 49th meeting of the GST Council ended.
She also informed that Rs 16,524 crore to six states which have submitted the accountant general’s (AG) certificate will also be released.
Delhi, Tamil Nadu and Telangana are among the six states which have submitted AG certificates.
Though submission of AG certificate is a requirement for the states to seek GST compensation, Sitharaman said that it wasn’t a strict pre-requisite, as 90 per cent of funds are anyway released to the states, while the remaining amount is given after the AG certificate is submitted.
The GST Council meeting, which was held at Vigyan Bhavan here, discussed matters pertaining to setting up of appellate tribunals and curbing tax evasion in pan masala and gutkha businesses.
The groupf of ministers’ (GoM) report on taxation for pan masala was accepted by the council.
At the meeting, the GST Council decided to reduce GST on pencil sharpeners and certain tracking devices. Exemption on coal rejects supplied by and to the washeries was also approved by the Council. Also, GST on a type of liquid jaggery has been reduced to nil from 18 per cent if sold loose. If its pre-packaged and labelled, the tax rate on it would be 5 per cent.

The GST Council also recommended rationalisation of late fee for delayed filing of annual returns.
However, no decision could be arrived at by the fitment committee for SUVs and MUVs.
Sitharaman said that the GST Council decided to tax services supplied by courts and tribunals under the reverse charge mechanism.
She also informed that the decision on the GST Appellate Tribunal has been accepted with change in language and the modification in draft will be circulated within a week.
Sitharaman said that she expects to finalise the GoM report on GST tribunals with slight modifications so that it is ready by March 1 and can be included in the Finance Bill.
The GoM’s report on online gaming could not be taken up at the meeting as the Chairman of the GoM, Meghalaya Chief Minister Conrad Sangma, could not attend the meeting due to the upcoming Assembly elections in the state, the Finance Minister said.
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#Entire #GST #compensation #cess #states #cleared
( With inputs from www.siasat.com )

February 18, 2023
Punjab imposes 90 paise per litre cess on petrol, diesel

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Chandigarh: The Punjab Cabinet on Friday gave its approval for a marginal increase in the VAT rates levied on the sale of petrol and diesel in the state.
The increase in the VAT rate will lead to an increase in the price of petrol and diesel by approximately 90 paise per litre, an official statement said.
This will bring more parity in prices of petrol and diesel in comparison with neighboring states, it added.
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#Punjab #imposes #paise #litre #cess #petrol #diesel
( With inputs from www.siasat.com )

February 3, 2023