The much-awaited 47th Goods and Services Tax (GST) Council meeting, with its focus on GST rate restructuring and extension of GST compensation cess, will now possibly be held in the first week of May, once the Union Finance Minister Nirmala .
The GoM will submit its recommendations after deliberation in two weeks.This is not for the first time that the Council is considering a state’s request to impose cess.
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People stand in queues to buy liquor outside a wine shop near Delhi- Gurugram border, in Gurugram. File. | Photo Credit:
PTI
The Haryana Cabinet on Thursday approved the State’s excise policy for the year 2021-22 and decided to discontinue the ‘Covid cess’ on sale of liquor, which was imposed in 2020-21 for generating additional revenue in view of the pandemic.
An official statement said the overall excise collection in the financial year 2020-21 was ₹6,792 crore, against the collection of ₹6,361 crore in financial year 2019-20.
The statement said, “Despite complete lockdown till first week of May, 2020 and overall economic slowdown for major part of the year 2020-21, excise revenue during the financial year 2020-21 has witnessed growth of 6.69%. Since, the period of allotment of retail vends for 2020-21 will come to an end on May 19, 2021, the growth in excise revenue for policy year 2020-21 is likely to reach 15%.”
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