New Cars
car&bike Team
Sep 10, 2017, 2:59 AM
The GST council has increased the cess rate on larger and mid-sized cars in India. Smaller cars with petrol engines upto 1200 cc and diesel engines upto 1500 cc have not been changed as expected. The GST rates for small cars continues to stay at 43%(28% GST+15% Cess) while a new mid size segment for cars has been created with a new total GST rate of 45%(28% GST+17% Cess). Luxury cars that are not SUVs have also been given a separate segment with a new GST rate of 48%(28% GST+20% Cess) while the SUV segment takes the worst brunt of the new decision with GST rates now pegged at an even 50%(28% GST+22% Cess). Essentially, rates for mid-size cars are up b5 2%, luxury cars are up by 5% and SUVs are up by 7%.
5 Min
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