Government May Introduce COVID-19 Cess in Budget 2021

Government May Introduce COVID-19 Cess in Budget 2021

The Government has discussed to introduce coronavirus cess or surcharge in Budget 2021 to fund additional spending due to the pandemic, including that on vaccines, a source aware of matter said.

However, Experts have opposed the idea, saying the timing wasn’t right. The industry has also asked that no new taxes be levied as the economy is under stress in its budget recommendations.

According to ET report, preliminary talks on revenue-raising measures have been held on whether to impose a new levy in the form of a cess or surcharge, but a final decision will be taken closer to the budget, which is scheduled to be announced on February 1.

Source:-Taxed by the pandemic, Centre may go for a coronavirus cess in Budget 2021

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