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Union Budget 2021: Agricultural infrastructure cess of 100% imposed on alcoholic beverages.

[Edited By: Vijay]

Monday, 1st February , 2021 03:40 pm

Finance Minister Nirmala Sitharaman, in her Budget 2021-2022 speech, said the government will impose an Agriculture Infrastructure and Development Cess (AIDC) on specified goods -- including alcoholic beverages, gold, silver, cotton, peas, apple, petrol, and diesel.

Agricultural infrastructure cess of 100 per cent has been proposed on alcoholic beverages, while on gold, silvers and dore bar, it's 2.5 per cent. On apples, it's 35 per cent, while on cotton it's 5 per cent each.

"To benefit farmers, we are raising customs duty on cotton from nil to 10 per cent and on raw silk and silk yarn from 10 per cent to 15 per cent. We are also withdrawing end-use based concession on denatured ethyl alcohol. Currently, rates are being uniformly calibrated to 15 per cent on items like maize bran, rice bran oil cake, and animal feed additives," a statement by the government said.

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Union Budget 2021: Agricultural infrastructure cess of 100% imposed on alcoholic beverages.

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