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Gst Cess Latest News

  • In yet another unexpected move, the Lok Sabha has approved a bill to hike Cess on luxury vehicles from 15 per cent to 25 per cent. The Cess will be applicable along with the 28 per cent GST that is already applicable on cars that are over the 4-metre length category. In a statement, the Finance Minister Arun Jaitley said that the Cess on luxury cars has been increased in order to compensate states for revenue loss on account of implementation of the Goods and Services Tax or GST. This bill will now officially replace the ordinance, which was issued in September by the GST council that increased the GST on cars over the 4-metre length bracket.
    GST Cess: Bill Allowing Cess Increase On Luxury Cars Passed By Lok Sabha
  • Following the GST Cess hike announced earlier this year, prices on the Volkswagen Vento sedan and Tiguan SUV have been revised across all variants. Prices on the Vento have increased between Rs. 4000 and Rs. 9000; whereas the Tiguan gets a significant price hike of Rs. 93,000 on the Comfortline trim and Rs. 1.04 lakh on the Highline trim.
    GST Cess: Volkswagen Vento And Tiguan Get A Price Revision
  • Audi India is the latest manufacturer to hike prices across its model range following the GST Cess hike announced earlier this month. The company has updated its website with the new prices that affect most models from the German automaker. Prices have increased between Rs. 43,000 lakh for the entry-level AudiA3, going up to Rs. 5 lakh on models like the Q7 and A8.
    GST Cess: Audi India Increases Prices Across Model Range
  • Tata Motors had slashed prices across its variant in July this year when GST came into force. Prices went down between Rs. 3300 Rs. 217,000 depending on the model and variant across its portfolio which was a reduction of nearly 12 per cent.
    GST Cess: Tata Hikes Price Of Hexa And Safari Storme
  • Following the increase of cess from 15 per cent as part of the original GST rates (43 per cent tax - 28 per cent GST + 15 per cent cess) to 20 per cent cess for luxury cars and 22 per cent cess for SUV, Jaguar India has had to increase prices cross the range. The increase on the cars and SUVs ranges from about Rs 80,000 to about Rs 10 Lakh depending on the model in the Jaguar range in India. The increase in cess has also adversely affected Jaguar's sister brand Land Rover with prices being increased across the board on all the SUVs sold in India. The move to increase prices comes after the GST council took the decision to increase cess on all cars and SUVs that are longer than the 4-metre bracket.
    GST Cess: Jaguar Increases Prices For Luxury Cars And SUVs
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