Insta
Ministry Of Finance Rubbishes Reports Claiming The Probable Imposition Of Calamity Cess Over GST
Finance Minister Nirmala Sitharaman
Rubbishing reports doing rounds in the media, the Ministry of Finance (MoF) yesterday (23 May) said that it is not considering the imposition of any calamity cess on the Goods and Services Tax (GST), reports Economic Times.
Reports in the media had earlier claimed that the MoF was considering the imposition of such a cess, akin to the flood cess which was imposed by Kerala in June last year to help the State recover from the massive damages it had sustained as an outcome of State-wide incessant rains and flooding.
Denying any such developments, MoF is said to be of the view that in the ongoing economic situation, any purported proposal of calamity cess would be adversarial and counter-productive as sales are already at low volume and such a move could further dampen the consumer sentiment.
MoF is also said to have put forth the assertion that such a measure in the ongoing economic situation could weaken the market's strength especially when the Government is endeavouring its best to boost the consumption activity.
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