close

News WrapGet Handpicked Stories from our editors directly to your mailbox

India raises GST tax rates for larger cars; pushes back filing deadlines 

Updated: Sat, Sep 09, 2017
09:08 pm
Reuters
RELATED NEWS
FM Sitharaman asks G-20 to take steps to revive growth, create reforms FM Sitharaman asks G-20 to take steps to revive growth, create reforms
India is world's fastest-growing economy, but this time there is a tie with China, says IMF India is world's fastest-growing economy, but this time there is a tie with China, says IMF
WATCH: Chinese President Xi Jinping reaches Chennai for meet with PM Modi, welcomed by folk dancers WATCH: Chinese President Xi Jinping reaches Chennai for meet with PM Modi, welcomed by folk dancers

Finance Minister Arun Jaitley said on Saturday the government would increase taxes for mid-sized, large, and sports utility vehicles under the recently unveiled Goods and Services Tax (GST), and also extended the deadline to file GST returns.

Jaitley said the so-called CESS rates for mid-sized cars would be raised by 2 percentage points. The rate would rise by 5 percentage points for large cars, and 7 percentage points for sport utility vehicles, Jaitley told a media briefing. The decision was taken by the GST council of ministers chaired by Jaitley earlier in the day.

At the same time filing categories under certain structures within GST were pushed back until October or November, Jaitley said.

Most of these returns had initially been due between July and September.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)