Search For "compensation cess"
Cigarette volumes expected to fall as new duty takes effect: Crisil Rating
Updated : 3 months, 3 weeks ago IST
Crisil Ratings reports that the domestic cigarette industry is preparing for a 6-8 per cent volume reduction in the next fiscal year. This follows the imposition of additional excise duties and an increase in GST rates effective February 1. Under the new tax structure, the compensation ce
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Parliament winter session: Lok Sabha adjourned, to reconvene on Dec 5 at 1
Updated : 5 months, 2 weeks ago IST
The Lok Sabha was adjourned for the day on the fourth day of the winter session, with the House scheduled to reconvene on December 5 at 11:00 AM. The Rajya Sabha was also adjourned shortly after.
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Sitharaman moves Health Security se National Security Cess Bill in Lok Sab
Updated : 5 months, 2 weeks ago IST
Congress MP from Haryana's Ambala Varun Chaudhury while noting that the Bill is silent on sharing the cess pool with States, suggested that the Bill be referred to a Select Committe. He noted that perhaps the name of a Bill is bilingual. The Bill can be in Hindi or English and need not be b
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Lok Sabha passes Bill aimed at raising excise duty on tobacco products
Updated : 5 months, 3 weeks ago IST
The Central Excise (Amendment) Bill, 2025 seeks to revise excise duties on tobacco and related products after the expiry of the GST compensation cess
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Centre to move Central Excise (Amendment) Bill for consideration in Parlia
Updated : 5 months, 3 weeks ago IST
Following the introduction of GST in 2017, the Centre had decreased central excise duties on tobacco and tobacco products to allow for the levy of compensation cess in GST without large impact on tax incidence. This bill seeks to amend the central excise rates, as the cess will be discont
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"MODI stands for Mission Of Developed India": BJP's CR Kesavan lauds PM fo
Updated : 7 months, 3 weeks ago IST
The Goods and Services Tax (GST) reforms, approved by the Union Government on September 4, came into effect on September 22. GST 2.0 features two main tax slabs, 5% and 18%, with a 40% compensation cess for luxury and sin goods.
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GST reform, a transformative step towards Aatm Nirbharta: Ministry of Coal
Updated : 7 months, 3 weeks ago IST
Key decisions of the 56th GST Council Meeting on coal include: removal of the Rs. 400 per tonne GST compensation cess previously levied on coal, and an increase in GST rate on coal from 5 per cent to 18 per cent.
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Govt needs to resolve compensation cess issue, says FADA President
Updated : 7 months, 3 weeks ago IST
The Federation of Automobile Dealers Associations (FADA) has urged the government to bring clarity on the issue of compensation cess, saying that the burden should not fall on dealers who are only part of the distribution chain.
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"Revolutionary reforms": Union Minister G Kishan Reddy lauds tax reduction
Updated : 7 months, 3 weeks ago IST
According to the Ministry of Finance, coal previously attracted a 5 per cent GST, along with a Compensation Cess of Rs 400/ton, prior to the rate rationalisation.
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We said compensation cess should be increased, but Centre did not agree: P
Updated : 7 months, 3 weeks ago IST
In a major reform aimed at providing relief to households, farmers, businesses and the healthcare sector, Finance Minister Nirmala Sitharaman on Wednesday announced a sweeping reduction in Goods and Services Tax (GST) rates on a wide range of essential items, automobiles, agriculture inputs,
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GoM proposes exempting GST on health, life insurance for individuals
Updated : 9 months ago IST
Finance Minister Nirmala Sitharaman on Wednesday addressed the Group of Ministers (GoMs) constituted by the GST Council on Compensation Cess, Health and Life Insurance (for individuals), and Rate Rationalisation at Vigyan Bhawan.
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No decision was taken on compensation cess to states in the first GoM meet
Updated : 1 year, 7 months ago IST
The ten-member Group of Ministers (GoM) panel, headed by the Union Minister of State for Finance Pankaj Chaudhary, met on Wednesday on the ongoing compensation cess issue. The meeting discussed the future of cess to states under the GST regime but no decision was taken says the minister.
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