President Pranab Mukherjee has given assent to the Sugar Cess (Amendment) Bill, 2015, raising the ceiling of the impost from Rs 25 to Rs 200 per quintal.
Impact of hike:
The hike in sugar cess would lead to increase in the accruals to the Sugar Development Fund, which facilitates rehabilitation and modernisation of sugar mills, thereby helping cane growers.
It will help sugarcane growers and cash-starved mills.
Bill envisages:
The Bill proposes to amend the Sugar Cess Act, 1982.
The principal Act provides for the imposition of a cess as an excise duty on the production of sugar.
The rate of sugar cess is notified by the central government from time to time.
The principal Act specifies the ceiling on the cess at Rs 25 per quintal under the Act. The Bill proposes to increase this ceiling to Rs 200 per quintal of sugar.
The cess has been proposed to be increased in order to meet the government’s expenditure on interventions to ensure payment of dues to sugarcane farmers.
The bill was declared a money bill, became a law after the President’s nod as it was not returned by the Upper House to the Lok Sabha within 14 days of its consideration there, as required under the rules.
What is money bill ?
Money Bill refers to a bill introduced in the Lok Sabha which generally covers the issue of receipt and spending of money,such as tax laws, laws governing borrowing and expenditure of the Government, prevention of black money etc.
Eg. of Money bills are Finance Bills and Appropriation Bills, Income Tax Act, 1961, The Undisclosed Foreign Income And Assets (Imposition Of Tax) Bill, 2015 etc .
The definition of “Money Bill” is given in the Article 110 of the Constitution of India. A financial bill is not a Money Bill unless it fulfills the requirements of the Article 110.
A money bill can only be introduced in parliament with prior permission by the President of India.
Money Bills can be introduced only in Lok Sabha .
Money bills passed by the Lok Sabha are sent to the Rajya Sabha .
The Rajya Sabha may not amend money bills but can recommend amendments.
The Lok Sabha Speaker certifies the bill as a money bill before sending it to the upper house, and the decision of the Speaker is binding on both the Houses.
A money bill must be returned to the Lok Sabha within 14 days or the bill is deemed to have passed both houses in the form it was originally passed by the Lok Sabha.
When a Money Bill is returned to the Lok Sabha with the recommended amendments of the Rajya Sabha it is open to Lok Sabha to accept or reject any or all of the recommendations.
A money bill is deemed to have passed both houses with any recommended amendments the Lok Sabha chooses to accept, (and without any that it chooses to decline).
Money bill cannot be returned by the President to the parliament for its reconsideration, as it is presented in the Lok Sabha with his permisssion.
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