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Centre collects Rs 380 billion as compensation cess between July and Nov

A cess is levied on these goods to help cover the loss suffered by the states

Press Trust of India  |  New Delhi 

GST
This is the first mega crackdown on jewellers to check for tax evasion after the GST was implemented in July 2017

The government on Friday said it has collected over Rs 380 billion between July and November by levying cess on luxury and demerit goods under the goods and services (GST) regime.

A cess is levied on these goods to help cover the loss suffered by the states on account of roll out of the regime. This is levied on top of the highest rate of 28 per cent on these goods. was implemented from July 1, 2017.

The government through compensation cess has collected a of Rs 380 billion for July-November, Minister said in a written reply in the Lok Sabha. Of this, Rs 72 billion was collected for July, Rs 78 billion for August, Rs 80 billion for September, Rs 71 billion for October and Rs 78 billion for November. Jaitley further said that the Centre has released Rs 24 billion to the states to compensate for losses. got maximum compensation from the Centre at Rs 32 billion, followed by (Rs 22 billion) and (Rs 21 billion).

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, January 06 2018. 01:55 IST
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