Goods and Services Tax (GST) in automobile sector, Know more
By: Team Ifairer | Posted: 27-04-2017
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However, small cars or the entry segment cars are likely to see a marginal increase in price. Small cars currently attract a 12.5 per cent central excise duty. Another 14.5-15 per cent VAT is levied by states, taking the total tax incidence to 27-27.5 per cent. A senior finance ministry official said the closed slab for this category of cars would be 28 per cent, resulting in a small increase in price.