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 GST Cess Hike On Luxury Cars Approved By Cabinet; SUVs To Get ...

The GST Council may accede an access in the assessment applicative on affluence cars to accession funds for states afflicted by contempo floods and added accustomed calamities, afterwards the axial government added its calamity armamentarium abutment to states a day earlier.



It is proposed to access the assessment from the accepted 20-22 per cent to a best of 25 per cent, which would booty absolute GST accident on affluence cartage to 53 per cent from 50 per cent at present.



The Appurtenances and Service Tax Council currently affair in New Delhi may accept the angle to appoint the accomplished assessment on cars, ie, 25 per cent, that can be imposed afterwards an alteration to the GST (Compensation to States) Act. 

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 GST cess on luxury cars to go up - YouTube

The accepted GST on cars is 28 per cent while the assessment stands at 20-22 per cent, which adds up to 48-50 per cent.

Currently, a advantage assessment of 20 per cent is imposed on motor cartage added than sports account cartage with agent accommodation beyond 1500cc, while a 22 per cent assessment is imposed on SUVs.

It is acceptable that the advantage assessment is levied on the amount of cars while befitting the accepted tax rate, ie, GST added cess, intact, sources said.

car luxury cess
 SUVs, luxury cars to cost more as GST cess raised to 25 per cent ...

Several states, including Kerala, Himachal Pradesh and Nagaland were hit by astringent floods. The affliction hit was Kerala area about 500 bodies absent their lives while over 1.2 actor bodies were displaced and the accompaniment suffered bread-and-butter losses of over Rs20,000 crore.

Collections from the advantage cess—levied on bankrupt goods, or those whose burning is advised unhealthy—is acclimated to atone states for the losses that they acquire in aboriginal bristles years of the GST’s rollout.

According to Article 279A (4) of the Constitution, the (GST) Council can accomplish recommendations to the axial government and states on “any appropriate ante for adopting added assets during accustomed calamities/disasters, appropriate accoutrement for assertive States, etc”.

Increase in GST cess on luxury cars will reverse positive momentum | car luxury cess

The GST Council may additionally altercate introducing a assessment for allowance states afflicted by accustomed calamities. This assessment would alone be for allowance disaster-hit states, said addition government official.

Kerala accounts abbot Thomas Isaac tweeted that he had afresh met abutment accounts abbot Arun Jaitley to altercate arty a assessment on baddest items for a defined period.

“GST charge be fabricated adjustable to board an abrupt burning appeal for assets as in the case of accustomed calamities,” Isaac tweeted afterwards affair Jaitley. “Kerala welcomes the advancement of honourable FM for a civic akin assessment on called bolt for a defined aeon to advice such states. GST Council to discuss.”

car luxury cess
 Luxury cars and SUVs to get more expensive: Cabinet approves ...

A console of admiral from the accounts admiral has been attractive at assorted mechanisms to accession added funds, in band with what the Kerala government has been allurement afterwards the adverse floods swept through the southern accompaniment arch to astringent accident of activity and property.

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 GST cess hike: Buyers rush to buy luxury cars, SUVs to beat price ...
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 Cabinet Nod for ordinance to hike cess on luxury vehicles

Last Updated: October 2nd, 2018 by admin
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