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Cabinet clears abolition of cesses for GST rollout, government to loss

Cabinet clears abolition of cesses for GST rollout, government to loss

Thursday, March 23, 2017, 12:54 PM

Centre will abolish 16 cesses and surcharges on union excise and service tax as it lays down the path for rolling out Goods and Services Tax (GST) from July. Cesses to be abolished include Krishi Kalyan and Swachh Bharat. This would lead to a loss of about Rs 65,000 crore by the exchequer, the government would have to find resources from the budget.
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