Mercedes Benz slams hike in cess

11 September, 2017, 16:49 | Author: Patsy Dennis
  • Luxury car companies divided over higher cess

The cabinet has chose to revise tax for larger cars and SUVs, as it wants to ensure that no undue benefits are given to manufacturers in the GST era. Likewise, the cess will remain unchanged for hybrid cars and 13-seater vehicles, finance minister Arun Jaitley told reporters after the council's 21st meeting.

Computer monitors of size of up to 20 inches will attract 18 per cent GST against 28 per cent, thus bringing monitors from 17 inch to 20 inch size under the same tax bracket.

Tax on mid segment cars had gone down from 48 per cent to 43 per cent and the council made a decision to increase cess by 2 per cent to 45 per cent, he said.

Hyderabad: Girl pushed into boys' toilet for not wearing uniform
She told ANI: "When I was walking up to my class room; my PT teacher stopped me and enquired about my uniform". They had requested that she be exempted from wearing the uniform for the day as the dress was wet.


The Goods and Services Tax (GST) Council has reduced rates on 40 products, majority daily use items, rendering them cheaper for the consumer, while the cess on mid and high-segment cars went up by 2-7 percent, which is likely to raise the prices of these cars.

GST Council had also chose to decrease the tax rate on a list of 40 items. The luxury cars term has not been announced clearly by the council. An ordinance was promulgated last week to hike the cess from 15 per cent to up to 25 per cent.

Under the GST regime, cars attract the highest tax slab of 28 per cent and on top of that, a cess is levied. Audi and Mercedes Benz opposed any new separate higher-tax category for luxury companies. "Whatever is the impact of the increased cess will reflect in the revised pricing from the effective date". The Council raised the cess, to fix this anomaly.

North Korea warns of harsh response if new sanctions imposed
The proposal included a ban on oil and textile exports to North Korea and prohibited North Korean citizens from working overseas . Earlier in the day, North Korea warned the US of "greatest pain" if it pushed ahead with a tougher UNSC resolution.


The Council has basically restored pre-GST relative excise duty differentials between the various categories of vehicles.

The automobile industry had pitched a similar hike to the GST Council because it felt that same hike for all segment of vehicles will affect the middle-class people. The luxury auto makers, however, are strongly opposing the measure, saying they are already paying higher duty and should not be categorised into a separate heavier-tax segment. Products like the Duster, Ertiga, Innova, Compass, Creta, Scorpio, XUV, Fortuner, Hexa and even the ones from premium brands now attract a tax rate of 50% (28% base +15% cess + 7% hike).

While these auto segments were the most to benefit in the previous GST rates, as it was much lower than the pre-GST rates.

Len Wein, Co-Creator Of Wolverine And Swamp Thing, Has Passed Away
He also edited some of DC's most acclaimed titles, including Alan Moore's seminal Watchmen series. Were this all Wein had done for superhero fiction his would have been a career well spent.


Recommended:



Popular

16th anniversary of 9/11 terrorist attack being observed today
Trump and his wife were also paying their respects at a Pentagon ceremony led by Defence Secretary Jim Mattis and Gen. Governor Andrew Cuomo has also ordered that flags be flown at half-staff in honor of the attack victims.

Chiefs Eric Berry Possibly Done for Season
Support quickly rolled in on social media overnight for Berry as fans anxiously awaited an update on the Fairburn, Ga., native. This marks the third time in Berry's eight-year career he ends the season with an injury or illness.

It's time for Chelsea to win the Champions League again - Hazard
They also have been placed in a Champions League group stage which will very much favour them as they will play against the likes of Basel, CSKA Moscow and Benfica.

Twitter is reportedly working on a new tweetstorm feature
The company said a year ago that it would stop counting photos, videos and GIF animations toward the 140-character limit. You wouldn't have to worry about a broken sequence, or people replying to your story before you've finished telling it.

Diamond miner's shares crash as Tanzania seizes exports
The provisional valuation is used to calculate the company's royalty payments to the government. Williamson is 25% government owned and Petra bought the majority stake from De Beers in 2009.

Arsenal boss Wenger: Alexis is no FATTY!
His displays also brought the suggestion from his former youth coach Jose Sulantay that Sanchez looked "fatter" than usual. Arsenal striker Danny Welbeck has said that manager Arsene Wenger has "a good headache" in terms of his options up front.

North Korea threatens 'pain and suffering' ahead of United Nations sanctions vote
In response to the sixth nuclear test on September 3, the United States and its allies are trying to have the U.N. South Korea has detected moves that indicate it might soon launch another intercontinental ballistic missile.

How Many HSS Hire Group PLC (LON:HSS)'s Analysts Are Bullish?
This is indicating the analyst believes there is a potential upside of 8 .4% from today's opening price of 609 GBX. The stock of WPP PLC ORD 10P (LON:WPP) earned "Buy" rating by Credit Suisse on Friday, September 9.

"It" Obliterates Competition At US Weekend Box Office
The film has a "fresh" 86 percent Rotten Tomatoes score, and audiences, who were 65 percent over age 25, gave "It" a B+ CinemaScore.

How to link SIM With Aadhaar Card
The person who comes for recharge of the phone should be given a form to give his details including Aadhaar number. Storage will be considered a criminal offence and punishable with up to three years of imprisonment.