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 |
After holding that the cash receipts and cash payments are unexplained, ad-hoc estimation of income can not be adopted –…
Dividing total turnover by 365 days and concluding that assessee could not have made such cash sale on a single…
NERIST Arunachal Pradesh invites EoI for Empanelment of Chartered Accountant firm North Eastern Regional Institute of Science and Technology, (NERIST)…
Sibsagar University invites Expression of Interest (EOI) for Appointment of Internal Auditor Sibsagar University invites Expression of Interest (EOI) from reputed…
In a recent judgment Andhra Pradesh High Court struck down Section 147A of the Income Tax Act, 1961 as unconstitutional.…
Bank was liable to pay compensation to borrower as it did not verify the progress of construction before loan disbursals…