Turkish health ministry, Ministry

New Delhi, Dec 19 Substantial rise in the share of cesses and surcharges in the country's gross tax revenue has been recorded over the years.The share of cesses and surcharges was 8.16 per cent of gross tax revenue in 2011-12 and 28.08 per cent of gross tax revenue in 2021-22, said the Ministry of Finance in a written reply in the Lok Sabha on Monday.The Ministry said that a major reason is the imposition of GST Compensation Cess, which is entirely used for payment of compensation to the states and flows to states as Grants-in-Aid, in their Receipts Budget. Resources from the other cesses are allocated to different schemes and programmes in the Union Budget, which are implemented by the states and other implementing agencies.States voice their views on the matter of levy of cesses and surcharges in various forums, including in Parliament. As per provisions laid under Article 270 of the Constitution of India: "All taxes and duties referred to in the Union List, except the duties and taxes, surcharge on taxes and duties and any cess levied for specific purposes under any law made by Parliament shall be levied and collected by the Government of India and shall be distributed between the Union and the states. The aforesaid Constitutional provision forms the basis for cess collection and utilisation for Union Government," said the Ministry in the reply.The Ministry informed that a few states have requested for extension of payment of GST compensation beyond the transition period of five years. As per Section 18 of the Constitution (One Hundred and First Amendment) Act, 2016, Parliament shall, by law, on the recommendation of the Goods and Services Tax Council, provide for compensation to the states for loss of revenue arising on account of implementation of the Goods and Services Tax for a period of five years. Accordingly, the GST (Compensation to States) Act, 2017 had been enacted by Parliament. The Central government is committed to payment of GST compensation to the states/UTs for five years as per the Constitutional provisions, it said.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Turkish Health MinistryFOLLOW

Turkish health ministry, Latest News

New Delhi, Dec 27 The Indian cyber agency CERT-In on Tuesday warned Ind users against phishing, credential stuffing, ... ...

Bihar Chief Minister Nitish Kumar on Sunday said that every day almost 45,000-50,000 COVID-19 tests are being conducted in ... ...

Union Ministry of Health and Family Welfare on Saturday decided to hold mock drills at all health facilities across ... ...

Singapore, Dec 23 Singapore reported 1,073 new cases of Covid-19 on Friday, bringing the total tally to 2,194,963. ... ...

Singapore, Dec 22 Singapore reported 1,200 new cases of Covid-19 on Thursday, bringing the total tally to 2,193,890. ... ...

Prague, Dec 20 Respiratory infections are on the rise in the Czech Republic, with the number of cases ... ...

Wellington, Dec 19 New Zealand recorded 42,740 new community cases of Covid-19 and 64 more deaths over the ... ...

New Delhi, Dec 19 Substantial rise in the share of cesses and surcharges in the country's gross tax ... ...