Tag Archives: Additional

Auto Industry Disappointed With Additional Cess On Larger Cars, SUVs

The Indian auto industry is disappointed with the Union Cabinet’s decision for an ordinance to increase the Goods and Service Tax (GST) cess on mid-range, large cars and SUVs from the current 15 per cent right now to 25 per cent. The government ordinance will need to be cleared by the President, but looks like the 25 per cent tax ... Read More »

Additional cess above GST to be removed on used car sales

Earlier Maharashtra had enforced an additional road tax of 2 percent on varying vehicle rates over and above the GST on purchase of new vehicles. This 2 percent cess was to replace the existing octroi duties in the state. NEW DELHI: Good news seems to be in the offing for the used car market. The additional cess of 15 percent that was to be imposed ... Read More »

Additional cess above GST to be removed on used car sales

NEW DELHI: Good news seems to be in the offing for the used car market. The additional cess of 15 percent that was to be imposed on certain categories of second hand vehicles will now not be chargeable, according to a recent notification by the Under-secretary to the Government of India. For instance certain categories of larger vehicles in the above 4 metre range were ... Read More »

Reliance Jio iPhone Users to Get Additional 12 Months of Free Service

Reliance Jio today announced a partnership with Apple to offer iPhone customers in India a number of offers, including a year of complimentary Jio service worth Rs. 18,000 for retail customers and a 25 percent discount for enterprise customers. Those who buy a new iPhone 7 or iPhone 7 Plus as well as the existing iPhone 6s, iPhone 6s Plus, ... Read More »

First-Time Home Buyers to Get Additional Tax Deduction

To lower the burden for first-time home buyers, Finance Minister Arun Jaitley in Budget 2016 announced an additional income tax deduction of Rs. 50,000 on the interest paid. The first-time home buyer will get this additional deduction in the next financial year only if the loan amount is less than Rs. 35 lakh and the value of the property is ... Read More »