Left Menu
Development News Edition

FinMin not considering calamity cess on GST

PTI | New Delhi | Updated: 23-05-2020 21:08 IST | Created: 23-05-2020 21:08 IST
FinMin not considering calamity cess on GST

The Finance Ministry is not considering imposition of calamity cess on the GST as businesses are grappling with low sales and declining demand, sources said. Reports had earlier said that the central government is considering a calamity cess on the Goods and Services Tax, similar to flood cess imposed by Kerala in June last year. Ministry sources said that in the present economic scenario during the COVID-19 pandemic, any purported proposal of introducing a calamity cess would be nothing less than an adversity itself

This would prove to be counter-productive, as sales are already at low volume and the industry is facing a deep crisis for want of demand and likely labour challenges, a source said. “Any such measure would further dampen the consumers' sentiment and could weaken markets' strength, especially when the government is endeavouring its best to boost the consumption," the source said

Also internationally, no country has tried such imprudent fiddling with their existing tax regimes during COVID time. None of the countries, developed or developing, have increased taxes to counter economic impact of the pandemic, the source added. Congress leader Kapil Sibal had earlier in the day tweeted: “Even the RBI admits growth this year will be in negative territory. Don't even think of a "calamity cess" on the GST. That will be another "calamity", he said.



Tracking Cybersecurity: Laying the groundwork for tougher regulations post-COVID 19

The changes indicate that the tech industry is moving towards a paradigm shift over how it operates and, more importantly, how it is regulated....

Tax dodging in rich and poor countries alike, wealthy taxpayers often outwit the taxman

... ...

COVID-19 threatens to widen the digital gender divide

In a world that, all of sudden, has turned virtual, it has become absolutely essential to providing equal digital access and opportunities to the unconnected population, primarily dominated by women. ...

Gender Equality Post-COVID-19: Rising inequalities ask for gender-sensitive policies

However, the death rate of women due to COVID 19 infection is less than men, the repercussions of worldwide lockdown have adversely affected women across communities and economic sectors throughout the globe. The experts fear that the pande...


Latest News

Trump touts job gains as 'greatest comeback in American history'

President Donald Trump on Friday celebrated a stunning U.S. employment report that showed more than 2.5 million jobs were added last month during the thick of the coronavirus pandemic, and predicted the battered economy will recover all of ...

Need to make villages self-reliant: Raj Guv

Amid the ongoing migrant crisis, Rajasthan Governor Kalraj Mishra on Friday said the countrys villages must be made self-reliant to prevent the movement of people to big cities in search of greener pastures. Addressing the principals, profe...

Pakistani activists: Lawmaker inciting against journalist

A Pakistani human rights group and several senior journalists on Friday lambasted a lawmaker from the ruling party, saying he has been inciting to violence against a local TV stations news presenter. According to the Human Rights Commission...

OWL's London Spitfire to enhance fan experience in 2021

The Overwatch Leagues London Spitfire will be the focus of a new esports partnership aimed at enhancing the fan experience, while creating marketing opportunities for the team. Guinevere Capital, along with Cloud9, which owns the Spitfire, ...

Give Feedback