Amendment in GST
GST Council approved hike in cess for Luxury Cars
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 [...]
The GST Effect : Jaguar Land Rover
Jaguar Land Rover announced GST Benefits to customers
Jaguar Land Rover announced that it will pass on the Goods and Service Tax (GST) benefits to customers on its vehicles with immediate effect. The benefits are in the vicinity of ₹ 2 lakh and ₹ 10.9 lakh depending on the model in the Jaguar Land Rover line-up. With the new GST norms set to come into effect from 1st July 2017 onwards, the automaker said that the estimated price reduction post GST will be up to 12 per cent, and will vary from state-to-state and model to model basis.
Jaguar currently produces five models in India including the XE, XF and XJ sedans, while the Discovery Sport and Range Rover Evoque from Land Rover’s stable are locally assembled as well. As part of the price reduction from, the manufacturer will be passing on the [...]
