Categories : Auto Repair

Spending plan 2016: Vehicles set to become costly; Jaitley recommends 4 % cess on SUVs

The Financing Minister proposed a cess of 1 per cent on little gas, LPG and CNG automobiles, 2.5 percent on diesel automobiles of certain capacity and 4 per-cent on other high-powered cars and SUVs. (Source: Express archive) Vehicle prices, consisting of those of mass market little ones, are set to increase as Finance Minister Arun Jaitley on Monday proposed to levy an infrastructure cess of up to 4 percent on numerous sort of vehicles. Diesel automobiles would see the highest boost in rates. The Financing Minister suggested a cess of 1 per cent on little gas, LPG and CNG vehicles, 2.5 per-cent on diesel automobiles of certain capability and 4 per cent on other high-powered vehicles and SUVs. View|Vehicles To Become Pricey, How Will Budget 2016 Impact The Car Sector Jaitley also suggested “to gather tax at source at the rate of 1 per-cent on purchase of luxury vehicles surpassing value of Rs ten lakh and purchase of products and services in money exceeding Rs 2 lakh.” “The pollution and traffic circumstance in Indian cities is a matter of concern. I suggest to levy a facilities cess of 1 per-cent on small gas, LPG and CNG cars, 2.5 per cent on diesel vehicles of certain capability and 4 per cent on other high engine capability cars and SUVs,” Jaitley said while revealing the Spending plan 2016-17 in Lok Sabha on Monday. Enjoy Budget 2016: Editors First Handle Arun Jaitley’s Announcements Providing details, he said petrol/LPG/CNG driven motor automobiles of length not surpassing 4 meter and engine capability not exceeding 1200cc would draw in a cess of 1 per cent. He recommended to impose a cess of 2.5 percent on diesel driven motor vehicles of length not surpassing 4 meter and engine capacity not surpassing 1500cc. Other higher engine capacity and SUVs and larger sedans would, nevertheless, draw in a cess of 4 per cent, Jaitley included. “Three-wheeled vehicles, electrically ran automobiles, hybrid automobiles, hydrogen automobiles based upon fuel cell innovation, cars …
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