President gave nod to Sugar Cess (Amendment) Bill, 2015

President Pranab Mukherjee has given his assent to the Sugar Cess (Amendment) Bill, 2015, raising the ceiling of the impost from Rs 25 to Rs 200 per quintal, a measure that will help sugarcane growers and cash-starved mills.

• It will amend the Sugar Cess Act, 1982.

The hike in sugar cess would lead to increase in the accruals to the Sugar Development Fund, which facilitates rehabilitation and modernization of sugar mills, thereby helping cane growers.

• The rate of sugar cess is notified by the central government from time to time.