The GST Council, on Monday (7 August), has hiked cess rates on sports utility vehicles (SUVs), mid-sized, large and luxury cars to 25 per cent from previous 15 per cent.
Expressing his disappointment over the new amendment in the goods and services tax (GST) law, Roland Folger, MD & CEO, Mercedes-Benz India said, “We believe this will be a strong deterrent to the growth of luxury cars in this country.”
Roland Folger, MD & CEO, Mercedes-Benz India mentioned, in an official statement, “This will also affect our future plans of expansion under ‘Make in India’ initiative, which aims at making and selling world-class products in India, with the latest technology for end consumers. We feel deprived as the leading manufacturer of luxury cars in India, who has been championing ‘Make in India’.”
“This decision will also [...]