New Delhi sources have stated that the cheer that goods and service tax has brought to the automotive market has diminished, with concerns mounting over the risk of states raising road tax to offset revenue loss and was added that Maharashtra has already decided to increase the levy on vehicles by 2% to compensate for the absence of octroi, a state tax which has now been merged with GST.
Currently the automakers have cut prices from July 1 to pass on lower tax incidence under GST to buyers. They expected this to drive wholesale numbers in a traditionally lean July, with inventory at dealerships also running low and the increase in road tax, which is outside GST and set by states, now stands to dampen the prospects.
Sugato Sen deputy director general at industry body society of Indian Automobile Manufacturers that “industry executives had feared as much, and had demanded the central government to subsume road tax in the overarching GST framework. “In the past too, every time the central government lowered excise duty, state governments increased road tax negating the benefit. That is why we had urged the government to subsume road tax in GST”.
Refreshed Honda Jazz hatchback gets four petrol & three diesel variants Accordingly Honda is all set to introduce the updated Jazz hatchback to its India line-up on July 19, 2018. A complete list of changes and feature additions, along with new images, have now surfaced online, prior to its official launch. The 2018 Honda Jazz update will come with four petrol and three diesel variants. While the engine options remain unchanged
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