GulfHindi English Desk: The Goods and Services Tax (GST) Council has made some major decisions in its 50th meeting. Some of these decisions can affect your plans to buy a car.
Now, Multi-Utility Vehicles (MUV) and Sports Utility Vehicles (SUV) will attract a 22% cess. As a result, the prices of MUV cars like Toyota Innova, Maruti Artiga, Kia Carense, and XL6 may increase. This new cess will also be applicable to all Sports Utility Vehicles (SUV) and CrossOver Utility Vehicles (XUV). Along with the existing 28% GST, a 22% cess will be levied, meaning that the prices of cars longer than 4 meters can increase even more.
Sedan cars will not be subjected to this new cess, so their prices will remain the same.
The council has also decided to impose a 28% tax on online gaming, horse racing, and casinos. This new tax can increase the cost of these services.
These changes will be implemented after amendments to the GST law. This means that these changes will not take effect immediately.
Here is a summary of the new GST decisions:
👉MUV and SUV cars: 22% cess required.
👉Sedan cars: No new cess.
👉Online gaming: 28% tax.
👉Horse racing: 28% tax.
👉Casinos: 28% tax.
👉Date of implementation: After amendments to the GST law.
en.gulfhindi.com News Summary
👉The GST Council has made some major decisions in its 50th meeting, which can affect your plans to buy a car.
👉MUVs (Multi-Utility Vehicles) will now attract a 22% cess, which means the prices of cars like Toyota Innova, Maruti Ertiga, Kia Carenz, and XL6 may increase.
👉The new cess will also be applicable on all Sports Utility Vehicles (SUVs) and Cross-Over Utility Vehicles (XUVs) along with the existing 28% GST, resulting in further price hikes for cars longer than 4 meters.
👉Sedan cars will not be subject to this new cess, so their prices will remain the same.
👉Online gaming, horse racing, and casinos will now face a 28% tax, which may increase the cost of these services.
👉These changes will be implemented after amending the GST law, which means they will not take immediate effect.
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