Cabinet approves promulgation of GST (Compensation to States)
Ordinance, 2017
The Union Cabinet on Wednesday approved
promulgation of an ordinance to suitably amend the Goods and Services Tax (Compensation
to States) Act, 2017.
The
approval will allow increasing the maximum rate at which the Compensation Cess
can be levied from 15% to 25%.
The increased cess would be levied on: Motor
vehicles for transport of not more than thirteen people, including the driver
falling under sub-headings 8702 10, 8702 20, 8702 30 or 8702 90 and Motor
vehicles falling under headings 8703.
The GST Council
in its meeting held in August considered the fact after introduction of GST,
the total tax on motor vehicles (GST + Compensation Cess) has
come down vis-a-vis pre-GST total tax and recommended the
increase as above.
The issue
regarding the increase in effective rate of Compensation Cess on motor vehicles
will be examined by the GST Council in due course.
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