GST Council for 10% disaster cess on SGST for Kerala rehabilitation, 7-member GoM panel to submit re

The Goods and Services Tax (GST) Council today has decided to take up the proposal by Kerala to impose a cess to help finance the disaster-ridden state. The Council has formed a seven-member Group of Ministers (GoM) panel to submit a report on imposing a 10% disaster cess on SGST, TV news channels reported. The GoM is likely to give the report in a few weeks.

The Council will require a legal amendment to impose a cess on the GST even as it has powers to make recommendations on any special rate for a specified period to raise additional resources during any natural calamity or disaster. Kerala has had put two options of levying a cess: first, an all-India cess, second, a cess only on SGST.

Courtesy : FINANCIAL EXPRESS