Soon, Be Ready To Shell Out More To Buy Luxury Cars, SUVs

न्यूज़ वर्ल्ड इंडिया | 0
| August 30 , 2017 , 14:29 IST

The Union Cabinet on Wednesday gave a go ahead to raising a levy on luxury cars and SUVs to 25 per cent from 15 per cent, according to government sources.

The new levy is in addition to taxes on the sale of luxury vehicles.

The government will now seek Presidential nod for raising the maximum cap of cess. The notification to hike the cess will be issued by the Central Board of Excise and Customs (CBEC) only after the presidential approval.

Prices of most of the SUVs were slashed between Rs 1.1 lakh and Rs 3 lakh soon after the GST was implemented.