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Heavy bikes, yachts, pvt jets to attract 31%

The Echo of India 2017-05-19 05:30:00
Srinagar19 May 2017

Motorcycles of more than 350 cc engine capacity will attract a total of 31 per cent tax under the GST regime, same as the tax incidence on private aircraft and luxury yachts.
According to the rate structure finalised by the GST Council here, all cars, buses, trucks and motorcycles including moped as well as personal aircraft and luxury yachts will attract a peak Goods and Services Tax (GST) of 28 per cent.
All classes of cars and SUVs as well as motorcycles of more than 350 cc engine capacity will also attract an additional cess.
The cess for motorcycles with more than 350 cc engine has been kept at 3 per cent, taking the total incidence of taxation to 31 per cent.
This is the same as that for private aircraft and luxury yachts.
Small cars of less than four meter length and with petrol engine of up to 1200 cc will attract 1 per cent cess on top of the peak rate.
Small diesel cars with engine of less than 1500 cc will be charged 3 per cent cess.
Mid-sized cars, SUVs and luxury cars will all attract 15 per cent cess, same as that for buses and vans that can carry more than 10 persons.
Hybrid cars of more than 1500 cc engine would also attract 15 per cent cess. (PTI)