Finance Minister Nirmala Sitharaman on Monday imposed a new cess on several commodities including fuel and liquor to progress the agriculture infrastructure in India.
Sitharaman during the speech at Parliament said, “I propose an Agriculture Infrastructure and Development Cess on certain goods.”
“Consequent to imposition of Agriculture Infrastructure and Development Cess (AIDC) on petrol and diesel, Basic excise duty (BED) and Special Additional Excise Duty (SAED) rates have been reduced on them so that overall consumer does not bear any additional burden,” Sitharaman was quoted as saying by ANI during Budget Session 2021.
The AIDC will be imposed in addition to basic customs on gold, silver and dore bars, alcoholic beverages, apples, crude soybean and on other products. Check out the commodities on which cess has been charged:
· Alcoholic beverages: 100%
· Bengal Gram/Chick peas: 50%
· Peas: 40%
· Apples: 35%
· Kabuli Chana: 30%
· Lentil (Mosur): 20%
· Crude soyabean and sunflower oil: 20%
· Crude palm oil: 17.5%
· Specified fertilisers (Urea etc): 5%
· Cotton (not carded or combed): 5%
· Gold, Silver and dore bars: 2.5%
· Coal, lignite: 1.5%
