The Kerala state is hoping to get around 1000 crore rupees as flood cess. State finance minister Dr.T.M.Thomas Issack informed this.
The GST Council has given permission to impose 1% cess for two years to raise money for relief works in the flood-hit state. The Council gave rights to decide on which goods the cess to be imposed.
Issack said that for one year the state will get 500 crores. So by two years, the state will able to collect 1000 crore. The details of the cess will be included in the state budget. On which goods the cess should be imposed and how to collect this will be decided after and will be included as budget recommendations.
He also revealed that for the last three months the tax revenue of the state has increased.