X
close save
crop image
x
TM
Sat, Nov 25, 2017 | Last Updated 1:13 pm IST

Menu &Sections

Search

Tax rate on hybrid cars will not be reviewed: Arun Jaitley

Tax rate on hybrid cars will not be reviewed: Arun Jaitley
data-page-url= 'http://www.apherald.com'

New Delhi sources have stated that the country's Finance Minister Arun Jaitley hinted that the tax rate on hybrid card will not be reviewed, saying the industry demands were not in sync with a study conducted by tax officers.



Previously the council had fixed 43% tax (28% GST plus 15% cess) on hybrid cars, a rate that industry felt was too high for the fuel efficient vehicles. Jaitley told reporters that "We have done a detailed study on auto industry demand and a paper has been made which will be circulated among members. And, if necessary, it would come up for discussion. The fact that is being presented, according to the paper, is not correct".

Tax rate on hybrid cars will not be reviewed: Arun Jaitley

The GST Council, chaired by the Union Finance Minister and having state counterparts as members, today lowered tax rates on 66 of the 133 items demanded by various sections of the industry and the council in its previous two meetings had put almost all goods and services in the tax brackets of 5, 12, 18 and 28% as it prepares to roll out the Goods and Services Tax (GST) from July 1.



Moreover Jaitley said the weighted average of all the rates decided by the council is significantly lower than the present tax incidence. As per the proposed rates under the GST regime, hybrid vehicles have been put in the same category as big petrol and diesel luxury cars attracting 28% rate with a cess of 15%.


5/ 5 - (1 votes)
Add To Favourite
More from author
Nara Lokesh should learn to be smart from his family members
Why Chandrababu lauded Congress CM Kiran?
Tips for preparing CAT 2017 Last Minute
Gujarat tops in Electric Vehicles Sales
Chandrababu Naidu is one leader who is completely morally bankrupt
Why TDP MLA MLA Vallabhaneni Vamsi gives resignation?
YSRCP Party gets new MLA by name Dommeti Venkateswarlu
Steps to get rid of Dandruff permanently
Foods to help you get Regular Periods
AP Assembly leaves 3 day vacation for MLAs
We don't have any time to prepare for South Africa's bouncy track - Kohli
Science behind wearing Mangalsutra
Nara Lokesh should know when to keep calm - Nandi Awards controversy erupts
Apply for B.Tech admissions by VITEEE
Mahindra, Ford extends tie up for making electric vehicles
Indian father shot while protecting son from robbers
Bhuvaneshwar Kumar and Shikar Dhawan out of Sri Lanka's remaining Tests
Hyderabad Park Hotel Owner has been accused for Cheating
Beauty benefits of Oranges for your Skin
You can turn Agriculture into a profitable business says Microsoft Founder Bill Gates
Nutrition for kids during puberty
Story about broken tusk of Ganesha
Hyderabad Air Hostess Harassed - Sexual Abuser falls on feet and apologizes - Watch Video
Ivanka Trump's Hyderabad Schedule kept secret due to security reasons
Andhra inspector caught with illegal assets more than 100 crores! SHOCKING Photos inside
Apply for BHEL Technician Apprentices Recruitment 2017
TVS Motor confident on betting rural buyers in South
Miss World 2017 Crown by Indian Manushi Chhillar
About the author

Nanotechnology Degree Holder. Movie Geek. Crazy about comics and cartoons. Hardcore Cricket Lover. Photoshop Professional