Heavy bikes, yachts, private jets to attract 31 pc GST
GST
Dated:- 19-5-2017
Srinagar, May 19 (PTI) Motorcycles of more than 350 cc engine capacity will attract a total of 31 per cent tax under the GST regime, same as the tax incidence on private aircraft and luxury yachts.
\nAccording to the rate structure finalised by the GST Council here, all cars, buses, trucks and motorcycles including moped as well as personal aircraft and luxury yachts will attract a peak Goods and Services Tax (GST) of 28 per cent.
\nAll classes of cars and SUVs as well as motorcycles of more than 350 cc engine capacity will also attract an additional cess.
\nThe cess for motorcycles with more than 350 cc engine has been kept at 3 per cent, taking the tot<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n rollout of the GST. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Heavy bikes, yachts, private jets to attract 31 pc GST GSTDated:- 19-5-2017Srinagar, May 19 (PTI) Motorcycles of more than 350 cc engine capacity will attract a total of 31 per cent tax under the GST regime, same as the tax incidence on private aircraft and luxury yachts. According to the rate structure finalised by the … Continue reading “Heavy bikes, yachts, private jets to attract 31 pc GST”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-3411","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/3411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3411"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/3411\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nThe Centre and states have agreed to impose cess on demerit and luxury goods under the GST regime, over and above the peak tax rate of 28 per cent.
\nOn tobacco, the cess will vary from 71-204 per cent.
\nAlso, scented zarda and filter khaini will attract 160 per cent cess, while for pan masala gutkha it would be 204 per cent.
\nFilter and non-filter cigarettes not exceeding 65 mm will attract cess of 5 per cent plus ₹ 1,591 per 1,000 sticks.
\nNon-filter cigarettes exceeding 65 mm but not exceeding 70 mm will attract cess of 5 per cent plus ₹ 2,876, while that for filter cigarettes the levy is 5 per cent plus ₹ 2,126 per thousand sticks.
\nFor cigars, a hefty levy of 21 per cent or ₹ 4,170 per 1,000 <\/p>\n
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