Saturday, November 25, 2017
facebook

google plus
Business

Posted at: Sep 11, 2017, 1:43 AM; last updated: Sep 11, 2017, 12:04 PM (IST)

Hiked GST cess on cars from today

Hiked GST cess on cars from today
Photo for representation purpose.

New Delhi, September 10

The increased GST cess on mid-sized, luxury and SUV cars will come into effect from Monday.

The GST Council on September 9 decided to hike cess on mid-sized cars by 2 per cent, taking the effective GST rate to 45 per cent.

Also, cess on large cars has been hiked by 5 per cent, taking the total GST incidence to 48 per cent while that of SUVs by 7 per cent to 50 per cent.

(Follow The Tribune on Facebook; and Twitter @thetribunechd)

“A notification regarding the increase in the effective rates of the Compensation Cess on specified motor vehicles will be issued on September 11, effective from 00 hours the same day,” the Central Board of Excise and Customs (CBEC) tweeted.

After the council meet yesterday, Finance Minister Arun Jaitley had said for large vehicles where affordability of consumers was high, the cess had been increased. “The pre-GST rate has not been restored... Even though we had a headspace of hiking cess by 10 per cent, it has been hiked by up to 7 per cent,” Jaitley said.

Cess on small petrol and diesel cars, hybrid cars and those carrying up to 13 passengers has not been hiked.

Car prices had dropped  as the tax rates fixed under the GST were lower than combined central and state taxes in pre-GST days. — PTI

COMMENTS

All readers are invited to post comments responsibly. Any messages with foul language or inciting hatred will be deleted. Comments with all capital letters will also be deleted. Readers are encouraged to flag the comments they feel are inappropriate.
The views expressed in the Comments section are of the individuals writing the post. The Tribune does not endorse or support the views in these posts in any manner.
Share On