Luxury car game will not be so strong if GST with higher cess gets implemented! ~ Shrir... - 0 views
-
Shriram Automall on 21 Aug 17It's no new news that India has proved to be a robust market for British luxury cars. Lately the industry has witnessed the further hike in exports or luxury cars from UK to India. But now the cess on sports utility vehicles and luxury cars is likely to be increased to 25 % from the current 15 %, making these vehicles more expensive. The Goods and Services Tax (GST) Council has taken a decision to this effect but has not discussed this yet. The increase in the cess will take the effective tax rate on these cars to 53 %.