You are here: Home » Economy & Policy » News
Business Standard

Govt amassed Rs 2,35,308 crore from cesses in 2016-17

Amount generated from cesses and surcharges under indirect tax category stood ar Rs 1,88,368 cr

Press Trust of India  |  New Delhi 

Rupee

The government collected a total Rs 2,35,307.75 crore last fiscal by way of a host of cesses, including those of education, Swachh Bharat, and other surcharges, Parliament was informed on Friday.

In a written reply to the Lok Sabha, Minister of State for Finance said the total revenue generated from education, Swachh Bharat, and other and surcharges in 2016-17 under direct was Rs 46,939.17 crore.

The amount generated from the aforesaid and surcharges under the category stood at Rs 1,88,368.58 crore last fiscal.

In the Budget 2015-16, Finance Minister Arun Jaitley had proposed to levy a cess of up to 2 per cent 'on all or certain services, if need arises'. The cess kicked in from November 15, 2015.

Also, to a separate query, Gangwar said that till mid-June 2017, 413 transactions were identified since coming into effect of the amended Transactions (Prohibition) Act, 2016.

"Provisional attachment of properties under the Act was made in 233 cases. Value of properties under the attachment is Rs 813 crore," the minister said.

The properties attached include deposits in bank accounts, jewellery, immovable properties and the like, he added.

The Transaction (Prohibition) Act, 1988, was comprehensively amended through the Transactions (Prohibition) Amended Act, 2016, to provide for an effective regime for prohibition of such transactions. The amended Act came into effect from November 1, 2016.

To another query, the minister said the has registered 2,349 cases under the Prevention of Money Laundering Act, 2002 (PMLA), conducted 736 searches and issued 789 provisional orders attaching property worth of RS 2,299 crore. It has arrested 130 persons and filed 370 prosecution complaints till June 30, 2017, under the PMLA.

As on July 12, 2017, the Ministry of Corporate Affairs has removed 1,62,618 companies from the Register of Companies by following the due process under the Section 248 of the Companies Act, 2013, Gangwar replied to a separate question.

RECOMMENDED FOR YOU