Jaitley "seriously" considering automakers concern on GST cess hike: Anant Geete

The hike in GST cess on luxury cars and SUVs is also likely to affect future plans of expansion under Make in India initiative, the minister said.

Finance Minister Arun Jaitley is said to be "seriously" mulling over the demand of automobile manufacturers which have raised concerns over rise in the goods and services tax (GST) cess on medium-to-large cars and sport utility vehicles (SUVs) to 25 per cent from 15 per cent.

"We have requested the finance minister (on the cess issue). Industry has given its memorandum and we have forwarded that to the finance minister and he is seriously considering that," PTI quoted Heavy Industries Minister Anant Geete as saying.

On the sidelines of SIAM's 57th annual convention, Geete added that it was against the spirit of liberal market dynamics.

The hike in GST cess on luxury cars and SUVs is also likely to affect future plans of expansion under Make in India initiative, the minister warned.

It is worth mentioning here that raising the cess requires an amendment to the GST (Compensation to a State) Act, 2017.
 

Source: PTI


Event date: 
Thursday, September 7, 2017

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