TaxTMI 
TaxTMI 
TaxTMI 
Cabinet approves promulgation of the Goods and Services Tax (Compensation to States) Ordinance, 2017
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....abinet approves promulgation of the Goods and Services Tax (Compensation to States) Ordinance, 2017 <br>GST<br>Dated:- 30-8-2017<br><BR>The Union Cabinet chaired by Prime Minister Shri Narendra Modi h....
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....as given its approval to the proposal of the Finance Ministry to promulgate an ordinance to suitably amend the Goods and Services Tax (Compensation to States) Act, 2017. The approval would allow to i....
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....ncrease the maximum rate at which the Compensation Cess can be levied from 15% to 25% on: a) motor vehicles for transport of not more than thirteen persons, including the driver [falling under sub-he....
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....adings 870210, 8702 20, 8702 30 or 8702 90]; and b) motor vehicles falling under headings 8703. The GST Council, in its meeting held in August 2017, taking into consideration the fact that post intr....
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....oduction of GST, the total incidence on motor vehicles [GST+ Compensation Cess] has come down vis-a-vis pre-GST total tax, incidence, and had recommended increase in the maximum rate at which Compensa....
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....tion Cess can be levied on motor vehicles falling under headings 8702 and 8703 from 15% to 25%. The issue regarding the increase in effective rate of Compensation Cess on motor vehicles will be exami....
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....ned by the GST Council in due course.<BR> News - Press release - PIB....