ETAutolytics

News
News

Passenger Vehicle
Commercial Vehicle
Two Wheelers
Automotive
Components
Industry
Tyres
Aftermarket
Policy
Auto Technology
People Movement
Oil & Lubes
New Launches
Raw Material
Financial Results
Auto Finance

Features
Features

Trends
Autopreneur
ETAuto TV

IndustrySpeak
IndustrySpeak

Interviews
Autologue
ETAuto Insights

Dealers

Data & Analytics
Data & Analytics

ETAutolytics
Reports

ETAutoTV

Brand Solutions
Brand Solutions

ETAuto Simulation & Testing Virtual Summit
ETAuto EV Conclave 2021
ETAuto Connected Vehicle Summit
ETAuto Farm Equipment Virtual Summit
ETAuto Smart Factory Virtual Summit
ETTelecom Digital Telco Virtual Summit
ETAuto EV Conclave
ETAuto Simulation & Testing Virtual Summit
ETAuto Commercial Vehicle & Logistics Conclave
Unfold the future of auto engineering
ETAuto Natural Gas Vehicle Conclave
ETAuto Digital Dealer & After Market Conclave
E-Mobility Convention 2019 - II
Indian Auto Industry Status Report 2020
ET Auto EnvironRise
ET Auto EnvironRiseAwards
IRF World Road Meeting 2017
Auto Expo 2018 Special
Simulation & Testing Congress 2018
ETAuto Connected Vehicle Conclave
Global Auto Business Summit
ETAuto Tech Summit 2019
ETAuto Retail Forum
EV Conclave
View Site

GST: A Bumpy Ride Or An Easy Ride

The Goods and Services tax came into effect from 1 of July 2017. Many automotive companies like Hyundai, Mahindra, BMW, Audi, Mercedes-Benz and Jaguar announced special offers on their cars calling it the pre-GST discount.
According to the rate structure finalised by the GST Council, all cars attracted a peak GST of 28 per cent, while small petrol cars with engine less than 1,200 cc attracted 1 per cent cess, that with a diesel engine of less than 1,500 cc attracted 3 per cent cess. Large cars with engine greater than 1,500 cc, and SUVs with length more than 4 meters and engine greater than 1,500 cc attracted a cess of 15 per cent.
The GST Council, in its meeting held on 9 September, hiked the cess on mid-sized cars (engine 1500cc) by 5 per cent and that for SUVs by 7 per cent. This takes the total tax incidence on these cars to 45 per cent, 48 per cent and 50 per cent, respectively, and lead to 1-4 per cent price hike.
Car companies such Honda, Toyota, Fiat and Hyundai increased their car prices after the increase in the GST Cess by the government.
With effect to this, Hyundai Motor Indian discontinued its sole 7-seater SUV Santa Fe due to low sales from the Indian market.

More Slideshows

Supported by:

News ›

Passenger Vehicle / Commercial Vehicle / Two Wheelers / Automotive / Components / Industry / Tyres / Aftermarket / Policy / Auto Technology / People Movement / Oil & Lubes / New Launches / Raw Material / Financial Results / Auto Finance

Features ›

Trends / IndustrySpeak / International / Careers / Data & Analytics / Jobs / ETAuto TV / Autopreneur / Interviews / ETAuto Insights / Data / Reports

Other B2B News Sites ›

Retail News / Health News / Telecom News / Energy News / IT News / Real Estate News / Marketing & Advertising News / Technology News / IT Security News / Government News / ETMasterclass News / ET Campus Stars News / Textile News / Sports News / Hotelier News / Facilities News / Fashion News / ElectronicsWorld News / Salon News / Aviation News / WasteManagement News / Light News / Construction News / Packaging News / Safety News / Shipping News / Hospitality News / Travel News / HR News / Pharma News / Legal News / Virtual Conference News / BU News / Water News / Retail News / Virtual Conference News / Infra News