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GST relief on small car, rate cut on 40 items

  • Summary: Giving some relief to those planning to buy small cars ahead of festive season, The government has approved an ordinance that empowered the GST Council to increase the cess on automobiles from 15% to 25% bringing down prices.

    Giving some relief to those planning to buy small cars ahead of festive season, The government has approved an ordinance that empowered the GST Council to increase the cess on automobiles from 15% to 25% bringing down prices.

    Finance minister Arun Jaitley said the new cess structure for automobiles is aimed at maintaining the balance between the need for revenues and encouraging manufacturing in the country. The government has informed that the 10% approval is an "enabling provision".

    The Council lowered the tax rates for 40 items including rubber bands, idly dosa batter, roasted gram, oil cakes, custard powder, dried tamarind, dhop agarbattis and plastic raincoats. Khadi fabric sold through the Khadi and Village Industries Commission outlets have been exempted from GST.



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