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Govt. Collects Rs. 38,000 cr as Compensation Cess During July-Nov
January 08, 2018
The collection from the cess that was levied on the luxury and demerit goods between July-November as per the Goods and Services Tax (GST) regime stood at Rs. 38,073 crores, the government said. Of this, Rs. 7,201 crores were collected in July, Rs. 7,850 crores in August, Rs. 8,014 crores in September, Rs 7,160 crores in October, and Rs 7,848 crores in November.
The compensation cess is levied on the demerit and luxury goods to make up for the losses occurred during the rollout of the GST. It’s charged in addition to the existing tax rate of 28%, the highest of all categories.
