Online Broadband Guide
Online Broadband Guide


Cabinet approves ordinance to increase cess on vehicles under GST

Cabinet approves ordinance to increase cess on vehicles under GST

"We will have to break up the figures to see if any State has not got (adequate) revenues and the Cess will compensate them".

Raising the levy will make luxury cars and SUVs more expensive and could hurt sales of companies like Mercedes-Benz, BMW, Volvo and Jaguar Land Rover, owned by Tata Motors.

Information gathered from the commercial tax department reveals that only 7,500 out of over 25,000 taxpayers registered on the GST network have paid the tax revealing a success rate of 30 per cent. For example, small petrol cars which did not exceed 4 metres in length used to be levied 31.4% tax before implementation of GST.

The GST Council is likely to decide the date of implementation of the increased cess during its next meeting on September 9, PTI reported.

Of the IGST collection, Rs20,964 crore have been on account of imports, he said, adding that Rs7,198 crore have come in from cess imposed on demerit goods.

Mid-size cars, luxury cars, and SUVs which had witnessed lower taxation since the roll-out of Goods and Services Tax (GST) will now return close to their pre-GST rates.

Post-GST, prices of the vehicles in the above-mentioned categories were reduced by automakers in the range of Rs 1.1-3 lakh.

The finance ministry had earlier said that after introduction of GST, the total tax on motor vehicles (GST plus compensation cess) came down as compared to the total incidence in pre-GST regime.

"Now, with this proposed measure, the luxury auto industry is going to decelerate". "What is critical to the industry is when, how much and on what criteria will the cess be increased", said Pawan Goenka, managing director, M&M. "If at all it was required, a review could have been taken after six months when the outcome of GST regime would have been clearer", he added.

TS Contributes 5 Percent To Countrys GST Kitty TS Contributes 5% To Country's GST Kitty: While the deadline to file first tax returns under the new tax regime ended on Monday, almost five percent has been contributed by the Telangana State to the country's Goods and Services Tax (GST) kitty. Presently, large motor vehicles, SUVs, mid-segment cars, large cars, hybrid cars and hybrid motor vehicles attract a cess of 15 per cent on top of 28 per cent GST.

follow

editors' picks

August 30, 2017
Facebook to Block Ads From Pages That Share Fake News
As well, it is unclear what will constitute "fake news" in the eyes of Facebook's third-party fact-checking parters. They are shutting off ads and blacklisting publishers who spread fake news using their pages to build an audience.

August 30, 2017
Verizon Releases Android 8.0 Oreo For Pixel Handsets
In order to limit the damage due to rogue applications, Google has just announced a new device named security Play Protect . What will the Play Protect do? Released last week, Android 8 .0 Oreo brings with it a host of new features and upgrades.

August 26, 2017
Gen Bajwa calls terrorists common enemies of Pakistan, Afghanistan
This objective is not served when one country indulges in a vicious blame game against the other, the ambassador said. The danger of nuclear weapons was also mentioned by Trump in his Afghanistan and South Asia policy speech on Monday.

August 25, 2017
Missing Swedish Journalist Headless Torso Found At Sea
Metal had been attached to the body and had "deliberate damage" inflicted in a possible attempt to ensure it sank, police said . The inventor was charged with manslaughter on August 11 and ordered to be held in custody for 24 days.

August 24, 2017
German police seize thousands of orange 'Trump' ecstasy tablets
The roughly 5,000 pills packed in a handful of bags had a street value of almost $46,000, according to authorities in Osnabrück . This isn't the first time the orange ecstasy pills have reared their orange heads, however, as back in July the United Kingdom .

August 23, 2017
Tornado warning issued for Onondaga County, most of Central New York
Winds of 20 mph to 30 mph - and gusts of up to 45 mph or 50 mph - are expected through the afternoon and into the evening. Storms like this usually weaken after dark, but may still be strong as they move into southern New England overnight.

August 22, 2017
US, South Korea drills begin amid tensions with North
South Korean President Mun Gehin said the exercises are entirely defensive and not meant to provoke tension in the region. North and South Korea are technically still at war after the 1950-53 Korean War ended with a truce, not a peace treaty.

August 22, 2017
HTC Vive Cuts Price by $200
The $599 package will feature HTC Vive , Tilt Brush, Everest VR and Richie's Plank Experience with a free trial for Viveport . Llamas remarked that, additionally, big developer studio games such as Fallout 4 and DOOM are slated to arrive soon.

August 22, 2017
Wyndham Championship: Henrik Stenson wins from Ollie Schniederjans
He has climbed to sixth place on the Official World Golf Ranking. "It's all about how you finish, I guess", Stenson said. Stenson's 22-under score topped the previous tournament record of 21-under 259 belonging to Kim Si-Woo and Pettersson.

August 22, 2017
FSU Ranked Third In Preseason AP Poll
The matchup features the highest-ranked teams in a season opener since the AP started a preseason poll in 1950. That's the same ranking Georgia landed in the coaches' preseason poll that came out earlier this month.