Government is likely to get an estimated Rs 23,944.4 crore from clean environment cess in the ongoing fiscal.
"The estimated amount of clean environment cess to be collected by Coal India and deposited with the government of India for the year 20116-17 based on the budgeted estimated production of CIL is Rs 23,944.4 crore," Coal and Power Minister Piyush Goyal said in a reply to Lok Sabha.
The additional cess is likely to hit the company‘s operating profits by more than 5-6 percent said K Ravi, MD, NCL Industries.
Najib Shah Chairman, Central Board of Excise & Customs (CBEC) says, the government will also gain marginally by the way of Make in India programme.
Renaming the Clean Energy Cess as Clean Environment Cess, Finance Minister Arun Jaitley in his Budget speech for 2016-17 today proposed to raise the cess on coal, lignite and peat from the current Rs 200 a tonne to Rs 400 per tonne.