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Thursday, March 10, 2016

2016-17 Union Budget - Proposes 3 New Cesses

1)Krishi Kalyan Cess @0.5%
 on all taxable services to be exclusively used for financing iniatives relating to improvement of agriculture and welfare of farmers
The cess to come in to force from June 01,2016 and is expected to raise 5000 crore in 2016-17


2)Infrastructure Cess @ 1%
on small petrol,LPG and CNG Card
2.5% on Diesel Cars meeting certain specifications
4% on other higher engine capacity vehicles and SUV's


3)Clean Environment Cess
increased from 200/tonne to 400/tonne on coal, lignite and peat

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