GST Council Meeting To Be Held Today; Cess On Luxury Cars And SUVs To Be Reviewed

The 21st GST council meeting chaired by Finance Minister Arun Jaitley will be held to consider the nitty-gritty of the cess on luxury cars and SUVs.

GST, the four-tier tax structure of 5, 12, 18 and 28 per cent came into force on July 1

Highlights
Finance Minister Arun Jaitley to head the 21st GST council meeting
Council to review the increase of cess on luxury cars and SUVs
The council passed an ordinance on September 3 to hike the cess to 25%
Finance Minister Arun Jaitley has reached Hyderabad to chair the 21st Goods and Services Tax (GST) Council meeting on Saturday. The 21st council meeting will be held to consider the nitty-gritty of the cess on large cars.

The Union Government promulgated an ordinance on September 3, raising the maximum cess that may be levied on medium-sized to large cars and sports utility vehicles (SUVs) from 15 percent to 25 percent.

The GST Council has to now decide the quantum of increase to be enforced in view of revenue requirements.

GST, the four-tier tax structure of 5, 12, 18 and 28 percent came into force on July 1.

Source - NDTV

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