CAR PRICE HIKE
While sales of mini cars (Alto, WagonR) remained virtually vapid at 35,428 units, those of compacts (Swift, Celerio, Ignis, Baleno, DZire, Tour S) rose 62% to 74,012 units.
1 Sep, 2017, 11.27PM IST
Cabinet clears Ordinance to permit hike in GST cess on cars
The Cabinet today gave its nod for hike in cess on mid-size, large cars and SUVs t.
30 Aug, 2017, 11.46PM IST
Cabinet may this week consider hike in GST cess on cars
The Cabinet may this week consider issuing an ordinance to increase the cess on mid- .
27 Aug, 2017, 03.21PM IST
Cabinet may consider ordinance on GST cess hike tomorrow
Presently, large motor vehicles, SUVs, mid-segment cars, large cars, hybrid cars and hybrid motor vehicles attract a cess of fifteen per cent on top of twenty eight per cent GST.
Hike in cess may hit Mercedes-Benz India hard
The current rate of cess is 15% over GST for the luxury vehicles. Folger said the sales have remained vapid after the implementation of GST due to the confusion over the cess.
Car companies like Maruti, Hyundai are wooing cash-rich babus, faujis after arrears pay
The salary hike under the Seventh Pay Commission recommendations and the payment of arrears would, industry executives hope, cushion the cess hike influence.
Hyundai seeks clarity on definition of luxury cars
Under the current GST rates, the company’s models such as all fresh versions of its sedans Verna and Elantra attract the same rate as luxury models from BMW, Mercedes and Audi.
Cess has been brought back to pre-GST levels: Jagdish Khattar, Carnation Auto
“I think it is unfair to the manufacturers who were told before the GST that the cess would be lowered,” said Khattar.
Luxury car cess: Ordinance on Cabinet agenda today
The effective tax on mid-size sedans was around 47% and that for luxury cars about 55% in the pre-GST era. On puny cars, the cess is 1-3% on top of the 28% GST.
Go after the money, financialisation is a mega trend: Ajay Bagga
«In next two, three weeks, I expect a cautious market at best sideways.»
Uber hikes Hong Kong fees amid legal troubles
The San Francisco-based technology company, which recently suspended its services in the neighbouring Chinese city of Macau for the 2nd time, told Reuters the price rise would benefit drivers as they pocketed most of the fares.
GST Council approves hike in luxury car cess
The Centre introduced a separate GST (Compensation to the States for Loss of Revenue) Bill, 2016, for the imposition of a cess on certain luxury goods.
need2know: eight macro triggers that may matter for market today
Almost all the currency demonetised in November found its way back into the banking system,
Hike in GST cess on luxury cars to hit job creation: JLR India MD
Rohit Suri, president and MD of JLR India, said that the proposal to hike GST rates will slow down sales of luxury cars, especially as prices may go up.
Government keen on swift update of law to hike cess on big cars
If it is incapable to budge the amendment this session, an ordinance will be issued, an official told ET. «Council has already taken a call on the cess,» the official said.