Jagran Josh Logo
  1. Home
  2.  |  
  3. Economy Current Affairs |  

Union Government decided to impose 0.5% Swachh Bharat Cess on all services

Nov 7, 2015 10:39 IST

Union Ministry of Finance on 6 November 2015 decided to impose 0.5 percent Swachh Bharat Cess (SBC) on all taxable services. It will be levied in addition to the 14 percent service tax that is in force now.

The SBC will come into force on 15 November 2015. Its proceeds will be exclusively used to support Swachh Bharat initiative.

The decision to impose SBC is in tune with the announcement made by the Union Finance Minister Arun Jaitley in his budget 2015-16 budget speech advocating for 2 percent additional cess to fund Swachh Bharat.

As per an estimate, the SBC is expected to fetch additional 4000 crore rupees per annum in tax revenues to the government.

The Union Government under the Swachh Bharat Mission (SBM) is planning to spend around 134000 crore rupees by 2019 to construct 11 crore 11 lakh toilets in the country.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes44 People Agreed

DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

Newsletter Signup
Follow us on
This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK