Thursday, 19 July, 2018
Update
   Congress MLAs do not allow any proceedings at Monsoon Assembly Session 2018; continue to agitate over to prioritised discussion of "Formalin Fish" issue. Speaker Pramod Sawant adjourns the house for the fourth time til 2:30pm   Congress MLAs continue their demand to discuss the 'Formalin Fish' issue; chaotic situation leads to adjournment of Monsoon Assembly session till 12:45   Speaker Pramod Sawant again adjourns the assembly session till 12:30 pm   Chaotic situation on first day of Goa Monsoon Session 2018; speaker Pramod Sawant adjourns session till 12 noon   Goa Monsson Session 2018 beings, Congress MLAs aggressively demand discussion on Formalin Fish issue on priority. Speaker Pramod Sawant asks MLAs to discuss issue during Calling Attention   12-day Goa Monsoon Session 2018 begins today. Congress moves adjournment motion to discuss 'formalin fish' issue, likely to boycott assembly session if not given enough time for discussion.   Fish imports banned for 15 days   Valpoi students accused of stealing cell phones from vehicles   Session begins today; Parrikar braces for rough weather   New diocesan team to tone down “distasteful” sacred music   Police charge sheet Babush in rape case   Ban welcome; time now to ban outside fish agents: Churchill

Daily consumables get relief; luxury cars now dearer

Deadline for filing GSTR-1 extended to Oct 10

10th September 2017, 06:28 Hrs

 


PTI
Hyderabad
Mid-sized and luxury cars as also SUVs will cost more after the GST Council on Saturday decided to levy an additional 2 to 7 per cent cess on them but exempted small and hybrid cars from any hike.
The council also lowered the Goods and Services Tax (GST) rates for a number of daily-use products ranging from idli/dosa batter to kitchen gas lighter.
A 2 per cent additional cess will be levied on mid-sized cars, 5 per cent on large cars and 7 per cent on SUVs, taking the total incidence of taxation to pre-GST levels, Finance Minister Arun Jaitley said after an 8-hour long meeting of the panel here.
The council, headed by Jaitley, however, decided not to levy any additional tax on small petrol and diesel cars of up to 1200 cc as well as on hybrid ones. The date of implementation of the additional cess will be notified later.
"Small petrol and diesel cars enjoyed a tax advantage of 3 per cent post GST. But status quo will be maintained on small petrol diesel cars, so even if it has got cheaper let consumers enjoy the benefit," Jaitley said.
Tax on mid segment cars had gone down from 48 per cent to 43 per cent and the council on Saturday decided to increase cess by 2 per cent to 45 per cent, he said.
Large cars got an advantage of 8 per cent, but the council hiked cess on Saturday by 5 per cent, he said adding SUVs got benefit of 11 per cent post GST, but cess is being hiked by only 7 per cent.
"Cess on cars with seating capacity above 10 but up to 13 as well as hybrid cars will remain unchanged," he said.
The council, he said, decided that in large vehicles where affordability of consumers is high, the pre-GST rate has not been restored.
"Even though we had a headspace of hiking cess by 10 per cent, it has been hiked by 7 per cent," the finance minister said.
Jaitley said GST on about 30 items have been lowered after anomalies in the fixation of rates were pointed out.
To deal with businesses which are deregistering brands post GST to avoid taxes, the panel decided May 15, 2017 as the cut-off date for considering as a registered brand for the purpose of GST levy, irrespective of whether or not the brand is subsequently deregistered.
Unbranded food items are exempted from the GST, whereas branded and packaged food items attract 5 per cent rate.
Hence, many businesses are deregistering their brands to avoid the levy.
The tax has been lowered on dried tamarind, custard power, oil cakes, dhoop batti, dhoop and other similar items, plastic raincoats, rubber bands, rice rubber rolls for paddy de-husking, computer monitors and kitchen gas lighters and brooms and brushes.Deadlines for other three returns to be filed under the GST regime have also been extended.

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