Three cess slabs for mid-sized cars, luxury cars & SUVs

Share

There is no change for the cess on small passenger cars (1.2-litre petrol and 1.5-litre diesel), hybrid cars and 13-seater vehicles. Hybrid cars were also given an exemption.

Recently, the GST Council had taken to increase the cess on luxury cars from 15% to 25%. For instance, post this announcement, the Audi Q7 would be expensive by Rs.3.5 lakhs.

The GST Council today met for the 21st time to discuss some of the issues after the implementation of the Goods and Service Tax or GST. The Corporation will have to revise the estimates or bear the extra burden."We have been taking up works at the rate of 6%".

The increased GST cess on mid-sized, luxury and SUV cars will come into effect from tomorrow.

Luxury carmaker Mercedes-Benz on Saturday termed as unfortunate the decision of GST Council to increase the cess on luxury cars, saying this would hurt the segment.

The list includes rubber bands, dosa batter, raincoats, dried tamarind, agarbattis, computer monitors, custard powder, brooms and roasted peanuts. Revenue Secretary Hasmukh Adhia said, "Companies with turnover of over Rs 100 crore the last date for filing GSTR1 will be October 3 and for the rest it will be October 10". It has been determined that any brand registered on May 15, 2017, irrespective of the fact that it is de-registered later will face 5% tax.

The FM said several other states had demanded that the GST on public schemes should either be 0% or brought down to 5%.

Transparent border wall: Trump selects firms to build 'other materials' prototypes
Construction of the prototypes will be paid for using a $20 million wall fund that was already in the fiscal 2017 budget. CBP announced last week that it had awarded contracts for the concrete border wall prototypes as well.

Mane sent off as Liverpool suffer City defeat
But he caught him with his studs and left Ederson needing treatment on the pitch before being stretchered off. Sane plays a neat one-two with Mendy sweeps the left-back's low cross past Mignolet at the near post.

Jonjo Shelvey's Swansea debut XI: Where are they now?
Asked what he believes would happen if Benitez left, Cole told the Daily Star : "Yes, I think they are going to struggle". Swansea are expected to give a debut to Renato Sanches , a deadline day signing from Bayern Munich .

According to a PTI report, the Council has extended the last date for filing of sales return or GSTR-1 by a month to October 10.

Meanwhile, the Council has made a decision to expand the definition of "works contract" to bring down the GST on services provided to construction of public structures from 18 per cent to 12 per cent.

Also for easier compliance, the Council has allowed businesses to file the Simplified GSTR-3B for four months till December.

The Minister said, overall GST collection has been robust with over 70 per cent of eligible taxpayers filing returns of about 95,000 crore rupees. For the rest, it will be October 10.

Date of GSTR 1, 2, 3 return filing for month of August will be informed later.

From here on, mid-size cars will bear an additional 2 per cent cess over the earlier 43 per cent tax levied by the first round of the GST tax structure. The revenue from the cess would then ultimately go to the compensation kitty of the states.

Share