SUVs, lux­ury cars to get dearer on cess hike

India Business Journal - - NEWS ROUND-UP -

SUVs and mid-sized, large and lux­ury cars that had be­come cheaper af­ter GST roll­out on July 1 will cost more as the GST Coun­cil has ap­proved a pro­posal to hike cess on them to 25 per cent from 15 per cent ear­lier. Un­der the GST regime, cars at­tract the top tax rate of 28 per cent. The cess of 25 per cent is levied to cre­ate a cor­pus to com­pen­sate States for loss of rev­enue from GST im­ple­men­ta­tion.

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