There is good news for new car buyers. Yes, the Central Government has withdrawn the cess on Good and Services Tax (GST) on the automobile. Let us tell you that before this, the government had fixed GST for cars and motorcycles with 1 percent to 3 percent and 28 percent.
But now the Government has changed the Companies Act, 1951, and the Industry Act of 1951-CAS on automobile (car and bike) will not be applicable now. An additional 1 percent cess will be charged on petrol cars with engine capacity of 1200 cc or that work. At the same time, diesel vehicles will attract 3% additional cess with capacity of 1500 cc or with the engine engine capacity.
According to reports, motorcycle will attract 28 percent GST and 3 percent cess of 350 cc on bike with engine capacity. As we know, the GST, which is applicable from 1 July 2017, has made the cess canceled on the automobile. Now only 28 percent GST will be applicable.
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