The central cabinet has approved the ordinance to increase the cess on luxury cars from 15 percent to 25 percent on Wednesday under the Goods and Services Tax Service Taxes (GST). This proposal will be put forward in the upcoming GST Council meeting on 9th September. After this, a notification will be issued by the Finance Ministry in this regard.
Responding to the decision, the country's leading automobile company Maruti Suzuki said that after the increase in cess on behalf of the government, the prices of trains could be increased. Also, the decision can affect the demand of automobile companies.
Following the decision of the central cabinet, the prices of mid-size, large and sporos utility vehicles are being considered for the increase. Approximately, these can increase from 1 to 3 lakh rupees. Let me tell you that in the GST Council meeting on August 5, the proposal to change the compensation law was approved.
Following the decision of the central cabinet, the prices of mid-size, large and sporos utility vehicles are being considered for the increase. Approximately, these can increase from 1 to 3 lakh rupees. Let me tell you that in the GST Council meeting on August 5, the proposal to change the compensation law was approved.
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