SUVs, luxury cars may cost more as GST Council plans to hike cess
The proposal to increase cess on SUVs and luxury cars from 15% now to up to 25% will be taken up at the GST Council’s meeting next month.business Updated: Aug 07, 2017 12:48 IST
Sports utility vehicles (SUVs) and luxury cars, which became cheaper after the July 1 rollout of the goods and services tax (GST), is likely to cost more with the GST Council, federal indirect tax body, considering a plan to raise cess on them from 15% to up to 25%.
The proposal will be taken up at the Council’s meeting in Hyderabad scheduled for September 9, a person privy to the development said, on the condition of anonymity.
“This proposal could not be taken up at Saturday’s meeting as other issues occupied a lot of time. This and other pending proposals will be taken up at the next meeting,” said the person.
The GST Council, at its 20th meeting in the capital on Saturday, made some adjustments in tax rates and resolved to put in place screening panels at central and state levels to check any profiteering tendency in the industry during the transition to the new indirect tax regime.
(Published in arrangement with Livemint)
First Published: Aug 07, 2017 12:31 IST