Parliament OKs bill to hike central excise on tobacco, replacing GST cess
Introduced on December 1, the bill amends the Central Excise Act, 1944.
Introduced on December 1, the bill amends the Central Excise Act, 1944.
The bill, introduced on December 1, amends the Central Excise Act, 1944, to adjust tax rates while discontinuing the compensation cess once its liabilities are settled.
'Based on the suggestion of many states, it has now been decided that the central government will initially receive the amount and then pass it on back-to-back to the states as loan.'
