No plan to impose Covid cess on GST

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The finance ministry has no plans to impose a calamity cess on the goods and services tax (GST) to raise resources for dealing with the Covid-19 pandemic. “There have been stories in the media claiming that the central government is considering a calamity cess on GST to tide over the economic crisis in the wake of Covid-19 pandemic,” sources said while dismissing the reports.

“In the present economic scenario in Covid-19 pandemic,any purported proposal of introducing a calamity cess would be nothing less than an adversity itself,” the source said.

They said any such proposal would be counter-productive at this time as sales are already at low volume. The industry is facing a deep crisis for want of demand and likely labour challenges that might come in future due to the pandemic. Therefore, tinkering with the taxes or cess would not be a prudent option, the sources said.

Read More at: https://timesofindia.indiatimes.com/india/no-plan-to-impose-covid-cess-on-gst/articleshow/75932852.cms

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