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COMPENSATION CESS FOR VEHICLES
Delhi Chakka Jam live updates: Why drivers are on strike today in NCR; Check areas affected in Delhi, Noida, Gurugram, Ghaziabad and NCRDelhi Chakka Jam News: A three-day transport strike has started today across Delhi-NCR. Commercial vehicle drivers are protesting rising fu...- Transporter union announces three-day strike in Delhi-NCR from May 21The AIMTC, the apex body of truckers, private buses, taxi and maxi cab operators, held a meeting on Tuesday in Delhi where issues related t...
- Simpler on paper, complex in practice: Auto industry grapples with new GST frameworkIndia's GST Council has streamlined taxes on automobiles, shifting from a four-tier to a two-tier structure by discontinuing the Compensati...
- Banks face car loan cancellations in run up to September 22 GST rate cut-off dateCustomers are cancelling approved car loans. This is because of the Goods and Services Tax (GST) rate cut on passenger vehicles. The 56th G...
- Auto dealers urge PM for relief on ₹2,500-cr cess credits under GST 2.0Automobile dealers are urgently seeking Prime Minister Modi's intervention to prevent the lapse of ₹2,500 crore in compensation cess credit...
- Compensation cess accumulated in auto companies books to lapse on September 22: OfficialAuto companies face a potential loss of Rs 2,500 crore as the compensation cess on automobiles is set to lapse on September 22 with the new...
- GST relief on cars, but dealers stare at Rs 2,500 cr hitGST reforms have lowered car, SUV and two-wheeler prices, but PV dealers face ₹2,500 cr losses as the compensation cess lapses on Sept 22, ...
- GST rate cuts to spur growth, benefit first-time buyers, middle-income families: Auto industryThe GST Council's decision to reduce tax rates on automobiles has been welcomed by the Indian auto industry, with players anticipating a bo...
- Motown unclear what route cess will take past GST 2.0Indian automakers and retailers may face losses on over 600,000 unsold vehicles. This is due to unclear GST compensation cess rules. The in...
- European carmakers Renault, Volkswagen and Skoda struggle to boost sales in IndiaRenault, Volkswagen, and Skoda are struggling to maintain sales in the Indian market. Data indicates a sales decline for these European bra...
- What is SUV? Understand GST council's official definitionThe higher rate of 22% compensation cess applies to SUVs (sports utility vehicles) that fulfil all four criteria.
- The GST cess shortfall – does tobacco hold the key?Tobacco is taxed at the highest slab of GST at 28 percent, being ‘sin goods’ and further attracting levies of additional duties like NCCD. ...
- Final call at September 20 meeting: GST Council may lower levies on auto, biscuitsGST Council could lower levies for some sectors at its September 20 meeting.
- Government introduces bill on GST compensation cess in Lok SabhaAn ordinance to hike the GST cess on a range of cars from mid-size to hybrid variants to luxury ones to 25 per cent was issued in September...
- Leased vehicles: Government provides clarity on tax rateThe GST Council, comprising Union Finance Minister Arun Jaitley and state finance ministers, in its last meeting on October 6 had decided t...
- President Kovind promulgates the ordinance to raise GST compensation cess on motor vehiclesThe government had to opt for the ordinance route to amend the GST Compensation Cess law as parliament is not in session and the GST Counci...
- Cabinet clears Ordinance to allow hike in GST cess on carsThe Cabinet today gave its nod for hike in cess on mid-size, large cars and SUVs to 25 per cent from 15 per cent under the new GST regime.
- Cabinet may consider ordinance on GST cess hike tomorrowPresently, large motor vehicles, SUVs, mid-segment cars, large cars, hybrid cars and hybrid motor vehicles attract a cess of 15 per cent on...
- Cabinet may this week consider hike in GST cess on carsThe Cabinet may this week consider issuing an ordinance to increase the cess on mid- size, large cars and SUVs to 25 per cent from 15 per c...
- Cess to yield Rs 55,000 crore in first 9 months of GST rolloutThe amount to be raised through cess on coal as well as luxury items and sin goods will be used for compensating states for revenue shortfa...
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