https://www.taxtmi.com/news?id=18413 The GST Council increased Compensation Cess rates on specified cigarette tariff items effective the midnight between 17 and 18 July 2017 to align total GST era tax incidence with pre GST levels. The prior calibration-linking Compensation Cess to specific excise net of NCCD-failed to account for the earlier cascading effect of VAT on excise, resulting in a lower overall burden under GST. The Council raised specific and ad valorem cess components across categories by length and filtration to restore parity, citing the need to avoid reduced taxation on demerit goods. en-us Tue, 18 Jul 2017 09:42:59 +0530 Tue, 18 Jul 2017 09:42:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=18413 The GST Council increased Compensation Cess rates on specified cigarette tariff items effective the midnight between 17 and 18 July 2017 to align total GST era tax incidence with pre GST levels. The prior calibration-linking Compensation Cess to specific excise net of NCCD-failed to account for the earlier cascading effect of VAT on excise, resulting in a lower overall burden under GST. The Council raised specific and ad valorem cess components across categories by length and filtration to restore parity, citing the need to avoid reduced taxation on demerit goods. News - Tue, 18 Jul 2017 09:42:59 +0530 https://www.taxtmi.com/news?id=18413