The Union cabinet on Wednesday approved an ordinance for raising the goods and services tax (GST) cess on luxury cars and sports utility vehicles up to as much as 25% from 15%, finance minister Arun Jaitley said. The new levy is in addition to taxes on the sale of luxury vehicles. Jaitley said the goods and services tax (GST) Council will decide on the timing of the cess hike.
The finance ministry on 7 August said the chaired by Jaitley had recommended to the central government to move legislative amendments needed for raising the maximum ceiling of cess that can be levied on motor vehicles including sports utility vehicles (SUVs) to 25% from the present 15%.
The Union cabinet on Wednesday approved an ordinance for raising the goods and services tax (GST) cess on luxury cars and sports utility vehicles up to as much as 25% from 15%, finance minister Arun Jaitley said. The new levy is in addition to taxes on the sale of luxury vehicles. Jaitley said the goods and services tax (GST) Council will decide on the timing of the cess hike.
The finance ministry on 7 August said the chaired by Jaitley had recommended to the central government to move legislative amendments needed for raising the maximum ceiling of cess that can be levied on motor vehicles including sports utility vehicles (SUVs) to 25% from the present 15%.
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