Gst Cars News, Photos and Videos | Latest Automobile News

Login

Home

News & Reviews

News Latest News Technology Car News Electric Cars Bike News

Comparision Motorsport Upcoming Cars Business News Opinion

Reviews Car Reviews First Drive Bike Reviews Comparison Road Test

Gst Cars Latest Videos

Top Cars Coming in 2024: Ready to Rule The Roads

Gst Cars Latest News

In yet another unexpected move, the Lok Sabha has approved a bill to hike Cess on luxury vehicles from 15 per cent to 25 per cent. The Cess will be applicable along with the 28 per cent GST that is already applicable on cars that are over the 4-metre length category. In a statement, the Finance Minister Arun Jaitley said that the Cess on luxury cars has been increased in order to compensate states for revenue loss on account of implementation of the Goods and Services Tax or GST. This bill will now officially replace the ordinance, which was issued in September by the GST council that increased the GST on cars over the 4-metre length bracket.

GST Cess: Bill Allowing Cess Increase On Luxury Cars Passed By Lok Sabha

Currently, under the Goods and Services Tax (GST) regime, small petrol cars with engine capacity less than 1200cc attract 1 per cent cess, while diesel cars with engine capacity of less than 1500cc attract 3 per cent cess, on top of the 28 per cent tax.

Auto Industry Seeks Two GST Rates For Passenger Vehicles

The effective GST rate on mid-size cars will be 45 per cent, and on large cars it would be 48 per cent. The rate will be 50 per cent on sports utility vehicles (SUVs), which include cars with length exceeding 4,000mm and having a ground clearance of 170mm and above.

Government Notifies GST Cess Hike On Mid & Large Cars, SUVs

Notification regarding increase in the effective rates of the Compensation Cess on specified motor vehicles will be issued on September 11, 2017, effective from 00 hours the same day.

GST Cess Hike In Cars To Take Effect From Today

Cabinet approved an ordinance to amend the CGST Act with an aim to increase cess on luxury vehicles. Finance Minister Arun Jaitley said GST Council will decide on the timeline for hiking cess on mid-, large-sized cars.

GST Council To Decide Timing For Raising Levy On Luxury Cars, SUVs

car&bike

Popular Car Brands

Popular Car Models

Maruti Suzuki Alto 800

Popular Bike Brands

Popular Bike Models

Royal Enfield Hunter 350

Bajaj Pulsar 150

Bajaj Pulsar N250

Royal Enfield Classic 350

Yamaha FZ-X

Bajaj Avenger Cruise 220

Honda CB Unicorn 160

Keep in Touch

Fifth Gear Ventures Ltd

602, 6th Floor, Tower – B, Embassy 247, LBS Marg, Vikhroli (West), Mumbai - 400083

Contact: 9606045096

Email: contact@carandbike.com