Tuesday, 23 January 2018

President gives nod to hike in Compensation Cess on motor vehicles

President gives assent to amendment to Goods & Services Tax (Compensation to States) Act, 2017; The Goods and Services Tax (Compensation to States) Amendment Act, 2017 shall be deemed to have come into force from September 2, 2017; Vide said amendment, Compensation Cess on motor vehicles for transportation of 10 or more persons as well as SUVs, mid-size, large and luxury cars has been hiked to 25% ad valorem (from 15% ad valorem); Accordingly, repeals the Goods & Services Tax (Compensation to States) Amendment Ordinance 2017 

No comments:

The Arbitrator’s Ledger: Financial Forensics in ODR

  Let’s start with a small story in this regard. Client B, a mid-sized electrical components manufacturer registered as an MSME, supplied ma...