Prices of SUVs and MPVs to go up 2% following the GST cess increase
The GST Council in India has raised the cess on utility vehicles (UVs) by 200 basis points from 20% to 22%, leading to a price rise of 2% for UVs measured at over four metres. Currently, big UVs are subject to a GST rate of 28%, plus a cess of up to 22%. However, the SUV condition has been removed, meaning all larger SUV/MPVs which attracted a 20% cess rate will now have a 22% rate.
Tags : gst gst council price hike SUV prices MPV prices car prices after gst suv mpv GST cess increase
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