Finance Ministry has denied media reports claiming that the central government is considering a calamity cess on GST to tide over the economic crisis in the wake of Covid-19 pandemic. Source in the Finance Ministry said, that in the present economic scenario in COVID-19 pandemic, any purported proposal of introducing a calamity cess would be nothing less than an adversity itself.
The source said, any such measure will further dampen the consumers’ sentiments and could weaken markets’ strength, especially when the Government is endeavoring its best to boost the consumption. The Ministry said, none of the countries, developed or developing, have increased taxes to counter economic impacts of Covid-19. (AIR)