SUVs, luxury cars may cost more as GST council plans to hike cess

SUVs, luxury cars may cost more as GST council plans to hike cess

Well, here is a bad news for all those who felt elated when government announced Sports utility vehicles (SUVs) and luxury cars, will be cheaper after the 1 July rollout of the goods and services tax (GST). Now, SUVs and luxury cars may cost more with the GST council, federal indirect tax body, considering a plan to raise cess on them from 15% now to up to 25%. However, the proposal will be taken up at the council’s meeting in Hyderabad scheduled for 9 September. The prices of most SUVs were cut between Rs1.1 lakh and Rs3.5 lakh. Considering a sharp cut in prices of SUVs might send the signal that the tax reform is making luxury items cheaper, eroding the government’s revenue, the council wants to readjust the cess on cars.

NYOOOZ TV Videos – Dedicated to bringing you the latest and best in politics, sports, current affairs and entertainment world. From traditional sports like cricket to best Bollywood entertainment news, NYOOOZ TV is a must watch for news updates.

Download our Apps on :

Google Play Store :
https://play.google.com/store/apps/details?id=com.newzstreettv

Apple Istore
https://itunes.apple.com/us/app/newzstreet-tv-video-news/id1132005445?mt=8&ign-mpt=uo%3D4

Our Website
http://www.nyoooz.com

SUVs, luxury cars may cost more as GST council plans to hike cess

Related posts