Gst

Stocks of companies that make diesel vehicles, such as Ashok Leyland, Tata Motors, and Mahindra & Mahindra, dropped as much as 2.5 per cent. Tractor maker Swaraj Engines and competitor Escorts Kubota both saw their share prices fall by almost 3 per cent.

Nitin Gadkari, the Union Minister of Road Transport, confirmed that there is no such active proposal on the 10% additional Goods and Services Tax (GST) on diesel-powered vehicles. Let's take a quick read to know more regarding the same.

The cost of buying an SUV or MPV (multi-purpose vehicle) for your garage is going up. The GST Council decided to raise the cess from 20 per cent to 22 per cent, which would likely lead to a 2 per cent increase in the price of UVs, especially those longer than four metres.

Petroleum products can be brought under GST once states agree to the same, said Finance Minister Nirmala Sitharaman. As of now, petroleum crude, motor spirit, high-speed diesel, natural gas, and aviation turbine fuel have been kept out of GST.

As per the Goods and Services Tax (GST) Council, in order for cars to be called SUVs, they need to meet certain set criteria and will be taxed accordingly. And with the new update, they have to meet all of the said conditions or else lose the classification.

Electric two-wheeler manufacturer Okinawa becomes the next manufacturer in line to pass on the recent GST rate reduction benefits to its customers. The rate cut (from 12 per cent to 5 per cent) has resulted in a price drop of ₹ 2,500 – ₹ 8,600.

With the GST rate cut on EVs in effect, brands like Tata, Mahindra & Ather Energy have already announced the benefits on their electric offerings by reducing their prices. We take a look at the revised pricing of these products.

The tax on luxury cars remains high not because of revenue implications, but optics.

Honda Car India releases revised price list for City, BR-V and CR-V after implementation of revised GST slabs for passenger cars. After the recent revision in Goods and Services tax slabs for passenger cars, Honda Car India has announced a hike in prices for its cars.

The GST Council has announced hike in cess for mid-size cars at 2 per cent, luxury cars at 5 per cent and SUVs at 7 per cent.