Cess leviable on motor vehicles to be considered in GST Council's 20th meeting
New Delhi [India], Aug 7 (ANI): The Goods and Services Tax (GST) Council on Monday announced consideration of cess leviable on motor vehicles in its 20th meeting held scheduled for August 5.
ANI
Aug 07, 2017 21:45 IST
New Delhi [India], Aug 7 (ANI): The Goods and Services Tax (GST) Council on Monday announced consideration of cess leviable on motor vehicles in its 20th meeting held scheduled for August 5. The Council in its meeting is expected to move legislative amendments required for increasing the maximum ceiling of cess leviable on motor vehicles falling under headings 8702 and 8703 including SUVs, to 25 percent instead of present 15 percent. However, the decision on when to raise the actual cess leviable on the same will be taken by the GST Council in due course. It was noted that after introduction of GST, the total tax incidence on motor vehicles [GST + Compensation Cess] has come down vis-a-vis the total tax incidence in pre-GST regime. The schedule to the Goods and Service Tax (GST) (Compensation to State) Act 2017, specifies the maximum rate at which Goods and Service Tax Compensation Cess may be collected. In respect of motor vehicles, the maximum rate at which Goods and Service Tax Compensation Cess may be collected is 15 percent. (ANI)
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