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Lok Sabha Approves Bill for GST Cess Hike In Luxury Cars To 25% | News

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Lok Sabha Approves Bill for GST Cess Hike In Luxury Cars To 25%

The Lok Sabha has approved the Bill of Amendment to GST (Compensation to the States) of 2017. Having passed this bill in the Lok Sabha, the percentage of luxury vehicles will increase from 15 to 25 percent.

News - wikifeed

This bill was passed between the Chief Minister on the declaration of secularism of the Minister of the Union Ananth Kumar Hegde and the amendment to the Constitution in the Lok Sabha. This bill seeks to change the Ordinance passed in September to strengthen the decision of the GST Council.

The ordinance to 25 percent in the hybrid variants and luxury cars in the medium size was the increase of the GST ceso.

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Due to the Finance Minister, Arun Jaitley applied to respond to the debate, said the use of funds received after lifting cesso of luxury goods and services (GST) to compensate the states by the bridge to the decline of the income will be given.

News - wikifeed

He said the GST Council in which the Minister of Finance of the States meets every month and decides on the rationalization of taxes in the context of revenue collection.

By participating in the debate, members demanded that GST rates be low on many products, including toilets, napkins, farm equipment, handicrafts, sports and handlooms.

Some people also suggested that four should have 1 tax return instead.

The debate over the GST vibration bill continued between the opposition and the scandal of members of Congress and TMC. Both parties demanded the resignation of Anant Hegde for the disputed comments.

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