Diabytes
GST cess rates News
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Various automakers including Hyundai Motor India, Fiat Chrysler Automobiles (FCA), Honda Cars India and Toyota Kirloskar Motor (TKM) have already raised prices following the hike in cess.
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HMIL, which is country's second largest passenger car manufacturer, has hiked price of 1.4 litre petrol automatic variant of its premium hatchback Elite i20 by Rs 12,547.
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On Thursday, Honda Cars India had announced increase in prices of City, BR-V and CR-V models, ranging between Rs 7,003 and Rs 89,069.
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Bhattacharya also said that initially there will be some hiccups and difficulties after implementation of the GST.
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The Goods and Services Tax launch will enhance buying power of consumers as over 80 percent of the goods fall below the 18 percent tax bracket, but SMEs need to work to remove technology glitches, say experts.
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Here are 5 top quotes of PM Narendra Modi at special midnight session of parliament to launch GST
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The one national GST unifies the country's USD 2 trillion economy and 1.3 billion people into a common market, an exercise that took 17 tumultuous years.
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The all-powerful GST Council will review the implementation of the Goods and Services Tax as also levies on some of the items on August 5.
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The historic Central Hall of Parliament opened for its first midnight ceremony in two decades for the launch of India's most sweeping tax reform, GST, with country's top leaders, cinestars and industrialists in attendance.
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Terming the GST a 'good and simple tax', Prime Minister Narendra Modi said it will put an end to harassment of honest traders and small businesses while integrating country into one market with one tax.
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Check out the tax slabs that will come into effect after the GST is introduced shortly after midnight on July 1, 2017.
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Here is your complete guide to rates for services, items and compensation cess and find out what's getting dearer and cheaper.
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The GST Council at the first day of the two-day meeting on Thursday broadly approved the rates of GST compensation cess to be levied on certain goods.
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