Hyundai’s recently launched Verna is yet another runaway hit for the Korean carmaker in India. There were fears that the Verna train might be slowed down by the government’s recent decision to hike cess on the GST charged on most passenger cars and SUVs. At the launch of the new Hyundai Verna, the company had promised a price protection for the first 20,000 customers ... Read More »
The new Goods and Services Tax regime had seen a realignment of taxation in the passenger car space to 28 per cent GST. However different segments of vehicles also attracted an additional cess – 1 per cent for small petrol cars / 3 per cent for small diesel cars (under 4 metres in length and certain engine capacity), and 15 ... Read More »
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 »
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 »
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 »
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