GST Council increases cess on mid-size-large cars and SUVs. The increase is 2 % on mid size cars, 5% on Large cars and 7% on SUVs
In its 20th meeting held on the 5th of August 2017, the GST Council had considered the issue of cess leviable on motor vehicles and recommended increasing the maximum ceiling of cess leviable on motor vehicles falling under headings 8702 and 8703 including SUVs, to 25% instead of present 15% . However, the decision to raise the actual cess leviable was deferred,
Now, the GST Council in its 21st meeting held on 9th September, 2017 has recommended increase in Cess on Motor Vehicles
As per discussions in the GST Council Meeting held on 9th September, 2017:
Segment |
Heading |
Present Compensation Cess rate |
Proposed Compensation Cess rate |
Passenger Vehicles of heading 8703 | |||
Small Cars (length < 4 m ; Petrol<1200 cc) | 8703 | 1% | No change |
Small Cars (length < 4 m ; Diesel < 1500 cc) | 8703 | 3% | No change |
Mid Segment Cars (engine < 1500 cc) | 8703 | 15% | 17% |
Large Cars (engine > 1500 cc) | 8703 |
15% |
20% |
Sports Utility Vehicles (length > 4m ; engine > 1500 cc; ground clearance > 170 mm) | 8703 | 15% | 22% |
Motor vehicles for transport of not more than thirteen persons, including the driver [falling under sub-headings 8702 10, 8702 20, 8702 30 or 8702 90] | 8702 | 15% | No change |
Hybrid Mid Segment Cars (engine < 1500 cc) | 8703 | 15% | No change |
Hybrid Large Cars (engine > 1500 cc) | 8703 | 15% | No change |
Hybrid Sports Utility Vehicles (length > 4m ; engine > 1500 cc; ground clearance > 170 mm) | 8703 | 15% | No change |
----------- Similar Posts: -----------
Addition u/s 68 for jewellery purportedly received on death of grandparent under Will upheld. In a recent judgment, ITAT upheld…
Supreme Court lays down tests to determine whether a debt is a financial debt or an operational debt under IBC…
Merely because directors of two companies were common not mean that deposits received was bogus and companies were shell companies…
Application though named as rectification but if tax imposed is not legitimate then it also touches upon the merit –…
Cost of acquisition as on 01.04.1981 taken as per valuer report by reverse indexing of current FMV to be further…
ITAT directed AO to serve notice of hearing both through electronic and physical mode upon the assessee In a recent…