This account is best suited for you, if you want to sell just one or may be a few vehicles. It’s the ideal choice for individuals who want to sell online.
This type of account is best suited for you, if you want to sell multiple vehicles. It’s the ideal choice for dealers or companies that intend to sell online or already selling online
Cess on SUVs and big cars will be raised by 10-25 percent.
The Goods and Services Tax (GST) cess on luxury cars and SUVs will soon be raised to 25 percent from the current 15 percent. The decision to revise the tax rates comes just a month after GST came into effect.
This move to raise the cess came after the GST council realised that the total tax incidence on motor vehicles was lower post GST.
As per the initial GST policy, Cars were to be taxed at 28 percent, with an additional cess ranging from 1 to 15 percent levied depending on vehicle segments. With the revision, Cars and SUVs measuring over four metres long, and with engines larger than 1,200cc (petrol) and 1,500cc (diesel) will attract 25 percent cess.
The GST Council is yet to decide on the date from when the increased cess will be applicable.
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Published On : 8 September 2020
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