The Council may
2020年6月10日Even though they are exempt from infrastructure cess, there is a 1 per cent National Calamity Contingent Duty, 2 per cent Central Sales Tax and 12. At present, hybrid vehicles attract excise duty of 12.The official further said, the rates have been put up in public domain well before time so that the industry gets time to transmision system bearings Suppliers prepare for the Goods and Services Tax which will be rolled out from July 1. It goes against the governments drive to promote eco-friendly vehicles".98 lakh and Rs 38.The GST Council, in its meeting last week, finalised 28 per cent tax rate for hybrid cars.5 per cent VAT, which takes the total incident of tax to 30. A host of other companies were also planning to foray into the segment."Concerns expressed by industry would be taken on board and any decision to change the tax rate would go back to the Council," the official said.New Delhi: The GST Council may reconsider the proposed 43 per cent tax on hybrid cars at its meeting next week after the auto industry voiced disappointment over the steep rate hike.
Auto industry sources said that they will write to the Finance Ministry this week explaining their position and how it would put a spanner in the wheels of government plans to promote alternate energy.3 per cent.Auto industry has already said that the increased tax incidence is against the governments long-term goal of promoting green vehicles in the country.Commenting on the tax rates, Toyota Kirloskar Motor Vice Chairman and Whole Time Director Shekar Viswanathan had said "This is a very environment unfriendly, regressive tax rate as far as hybrid vehicles are concerned.Some of the popular hybrid vehicles sold in India areCamry Hybrid and Prius from Toyota and Honda Accord. These cars are priced between Rs 31..As per the tax slabs decided by the Council last week, the incidence of GST on mid and large-sized hybrid cars has been kept at the same level as passenger cars. The Council may take a re-look at it in its next meeting on June 3," a revenue department official told PTI.96 lakh. Under the GST, the tax incidence on hybrid vehicles will go up to 43 per cent from the current level of effective tax rate of 30. However, mid-size and large-size hybrid cars have been subject to 15 per cent cess -- same as similar sized passenger cars.5 per cent, similar to the ones for entry level small cars such as Tata Nano or Maruti Alto."The tax incidence on hybrid vehicle has gone up and we are reading about the concerns being shared by industry.
Auto industry sources said that they will write to the Finance Ministry this week explaining their position and how it would put a spanner in the wheels of government plans to promote alternate energy.3 per cent.Auto industry has already said that the increased tax incidence is against the governments long-term goal of promoting green vehicles in the country.Commenting on the tax rates, Toyota Kirloskar Motor Vice Chairman and Whole Time Director Shekar Viswanathan had said "This is a very environment unfriendly, regressive tax rate as far as hybrid vehicles are concerned.Some of the popular hybrid vehicles sold in India areCamry Hybrid and Prius from Toyota and Honda Accord. These cars are priced between Rs 31..As per the tax slabs decided by the Council last week, the incidence of GST on mid and large-sized hybrid cars has been kept at the same level as passenger cars. The Council may take a re-look at it in its next meeting on June 3," a revenue department official told PTI.96 lakh. Under the GST, the tax incidence on hybrid vehicles will go up to 43 per cent from the current level of effective tax rate of 30. However, mid-size and large-size hybrid cars have been subject to 15 per cent cess -- same as similar sized passenger cars.5 per cent, similar to the ones for entry level small cars such as Tata Nano or Maruti Alto."The tax incidence on hybrid vehicle has gone up and we are reading about the concerns being shared by industry.
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