• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Total Amount Of Cess And Surcharge Grew By 63.74% From 2017-18 To 2022-23

OMMCOM NEWS by OMMCOM NEWS
March 27, 2023
in Business

New Delhi:  The total amount of cess and surcharge grew by 63.74 per cent from 2017-18 to 2022-23 (RE), the Parliament was told on Monday.

Collections under GST Compensation Cess grew by 107.6 per cent from 2017-18 to 2022-23 (RE), Finance Minister Nirmala Sitharaman told the Lok Sabha in a written reply.

The Minister saidthat in the case of GST Compensation Cess, the proceeds of the cess leviable is initially credited to the Consolidated Fund of India, in terms of Article 266 of the Constitution, and the funds are provided to the States/UTs through GST Compensation Fund created in Public Account of India as per provisions of the GST Compensation Act, 2017.

In 2022-23, despite the collection of Rs 1,15,650 crore (till February 2022), a total amount of Rs 1,49,168 was released to the states/UTs. Further, during the FY(s) 2020-21 and 2021-22, the Union Government decided to borrow an amount of Rs 1.1 lakh crore and Rs 1.59 lakh crore to meet the shortfall in GST Compensation Cess collections and transferred the amount to the states as back-to-back loan to strengthen the states’ resources, the reply added.

The surcharges levied by the government are not meant for any specific purpose. These are used, in general, for various activities of the government including public health, subsidies, education, interest payments, defence etc, added the reply.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

Please Protect Democratic Rights For Sake Of Poor: Bengal CM To President

Next Post

Significant Rise In Money Laundering Cases: Govt

Related Posts

Adani Group
Business

‘Baseless, Mischievous’: Adani Group Denies Report Of US Probe Into Alleged Iranian LPG Links

June 2, 2025
Business

India, Japan Agree On Deepening Maritime Ties

June 2, 2025
Business

India’s Coal Production Rises 3.4 Per Cent To Cross 86 Million Tonnes In May

June 2, 2025
Washington, DC : Prime Minister Narendra Modi in a bilateral meeting with Tesla CEO Elon Musk at Blair House, in Washington, DC on Thursday, February 13, 2025. (IANS)
Business

Tesla Has To Manufacture In India, PM Modi And Elon Will Work It Out Soon: Errol Musk

June 2, 2025
Business

Way To Go: Elon Musk’s Father Errol Hails India’s Electric Car Scheme

June 2, 2025
Business

India Inc Posts Stable Q4 Performance Amid Global Headwinds: Report

June 2, 2025
Next Post

Significant Rise In Money Laundering Cases: Govt

ED takes possession of Benami property worth Rs 245.05 cr

ED Takes Possession Of Benami Assets Worth Rs 245.05cr

Savarkar Row: Shinde Tries To Pip Thackeray, Announces Processions In State

Khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.