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मंगलवार, अगस्त 08, 2017

SUVs can be expensive up to 10% - luxury cars

SUV, medium size, big and luxury cars will now be expensive because the GST council has approved the proposal to raise the rate of cess from existing 15% to 25%. Remember that after the implementation of the goods and services GST, their prices were reduced.  Cars under GST have been rated the highest rate of 28% tax. A cess of 1-15% has been levied on goods and services in this class so that the revenue generated from the GST can be compensated for the damage done to the states in revenue.

Now the rate of cess on SUVs and big cars has been increased. The finance ministry said in a statement that after GST, the GST and cess of the total tax on cars had reduced the fee compared to the earlier GST system. The statement said that the GST Council held this issue in its 20th meeting held on August 5 and recommended to the Central Government that it will increase the maximum cess from existing 15% to 25% on motor vehicles coming under the title 8702 and 8703. May propose to make legislative amendment.

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