Govt mops up Rs 6900 Cr Clean Energy Cess so far this year: Minister
By TIOL News Service
NEW DELHI, DEC 19, 2014: CLEAN Energy Cess is levied as a duty of Excise under section 83 (3) of the Finance Act, 2010 at the rate of Rs.100 per tonne on Coal, Lignite and Peat (goods specified in the Tenth Schedule to the Finance Act, 2010) in order to finance and promote clean initiatives, funding research in the area of clean energy or for any other purpose. This was stated by Mr. Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy in a written reply to a question in the Lok Sabha today. The amount of Clean Energy Cess collection/accrued in the last three years and current year are furnished in the table below:-
Financial Year
|
Amount of Clean Energy Cess levied/billed on sales
|
2011-12
|
Rs. 2579.55 crore
|
2012-13
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Rs. 3053.19 crore
|
2013-14
|
Rs. 3527.75 crore
|
2014-15
|
Rs. 6857.50 crore (Provisional)
|
The Minister further stated that the fund created through clean energy cess accruals is meant for the purposes for financing and promoting clean energy initiatives, funding research in the area of clean energy or for any other purpose relating thereto. Thus, projects aiming at reduction of emissions with innovative technologies from different sectors get considered under this funding mechanism, the Minister added.
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