7% extra cess on SUVs; small cars exempt

7% extra cess on SUVs; small cars exempt

Mahindra and Mahindra MD Pawan Goenka said: "We are awaiting the exact definition of the categories".

The increased GST cess on mid- sized, luxury and SUV cars will come into effect on September 11.

However, the GST Council's revision in the GST cess on mid-size, large cars and SUVs was made to still keep it a little lower than the pre-GST levels.

"Even though we had a headspace of hiking cess by 10 per cent, it has been hiked by 7 per cent", the finance minister said.

The tax rates for around 30 common goods, including raincoats, rubber bands and batter (for idlis and dosas), have been reduced. Unbranded agriculture produce is not taxed.

The State government will stress the pending demands including reduction of GST on infrastructure projects from 12 per cent to 5 per cent. Hence, many businesses are deregistering their brands to avoid the levy.

Deadlines for other three returns to be filed under the GST regime have also been extended.

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"Overall GST collection has been robust so far, " he said.

A detailed presentation was with regard to migration of old registrants to GST from earlier regime. "The GST Council will also take up some IT-related issues in the GST network which has faced glitches", they said. "I would recommend that we set up a small group of ministers to examine and work out a way forward in 2-3 months". It has been determined that any brand registered on May 15, 2017, irrespective of the fact that it is de-registered later will face 5% tax.

Since the August 30 announcement of approval for GST cess hike by 10 per cent for luxury cars and SUVs, the government met with a lot of criticism from vehicle makers in India.

The Council yesterday decided on the quantum of hike in cess in various segments.

GST cess on large cars increased by 5% to now 20%. Although it is unclear if the council will use the entire additional space for the cess hike provided by the ordinance, automakers are keenly watching this and also which among their bevy of products will suffer the extra cess. The earlier deadline was tomorrow, i.e. September 10.

"For GSTR-1, 2, 3, we are giving a long rope and we are staggering the return filing date for July", Adhia said. The new one is October 10.

While GSTR-1 is the sales return and GSTR-2 is the purchase return, GSTR-3 is the match of GSTR-1 and GSTR-2.

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