Consider the following statements on Agriculture Infrastructure Development Cess:

It was announced in Bugdet 2022-23.

It will be levied on various products prominent among them is alcoholic beverages, imported apple, imported pulses etc.

Which of the statements given above is/are correct?

Question

The Budget for 2021-22 has proposed a new levy — Agriculture Infrastructure Development Cess. Cess is a kind of special-purpose tax which is levied over and above basic tax rates. The purpose of the new AIDC is to raise funds to finance spending on developing agriculture infrastructure.
The new cess will be levied on 29 products, prominent among which are gold, silver, imported apple, imported alcohol (excluding beer), imported pulses, imported palm oil, imported urea, and petrol/diesel including branded ones.
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.

GKToday Admin · Accepted Answer

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The Budget for 2021-22 has proposed a new levy — Agriculture Infrastructure Development Cess. Cess is a kind of special-purpose tax which is levied over and above basic tax rates. The purpose of the new AIDC is to raise funds to finance spending on developing agriculture infrastructure.
The new cess will be levied on 29 products, prominent among which are gold, silver, imported apple, imported alcohol (excluding beer), imported pulses, imported palm oil, imported urea, and petrol/diesel including branded ones.
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.

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