SUVs may soon cost more as cap on cess to rise
Sports utility vehicles (SUVs), racing cars, station wagons and 10-seater cars, which includes some high-end cars and also cars used for rentals, may soon become more expensive as the GST Council has asked the government to raise the cess cap to 25 pc from the current 15 pc, a statement said.
By : migrator
Update: 2017-08-07 18:50 GMT
New Delhi
After the cap on cess is raised, the total tax under GST on such motor vehicles may go up to 53 per cent from the current 43 per cent as these have been placed under the highest tax slab of 28 per cent. The decision was taken at the Council’s meeting on August 5. Though the Centre has been advised to increase the ceiling on cess, the decision on when to bring it into effect is still pending. “The GST Council considered the issue of cess leviable on motor vehicles in its 20th meeting held on August 5,” said the statement.
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