GST Council Meeting To Be Held Today; Will Review The Cess On Luxury Cars
- Finance Minister Arun Jaitley to head the 21st GST council meeting
- Council to review the increase of cess on luxury cars and SUVs
- The council passed an ordinance on September 3 to hike the cess to 25%
Finance Minister Arun Jaitley has reached Hyderabad to chair the 21st Goods and Services Tax (GST) Council meeting on Saturday. The 21st council meeting will be held to consider the nitty-gritty of the cess on large cars.
Also Read: GST Cess Hike On Luxury Cars Approved By Cabinet
The Union Government promulgated an ordinance on September 3, raising the maximum cess that may be levied on medium-sized to large cars and sports utility vehicles (SUVs) from 15 percent to 25 percent.
Also Read: 10 Per Cent Cess Hike On Larger Cars & SUVs: Ten Things To Know
The GST Council has to now decide the quantum of increase to be enforced in view of revenue requirements.
GST, the four-tier tax structure of 5, 12, 18 and 28 percent came into force on July 1.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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