"Following the ordinance on GST amendment, we have to revise the price of our products in line with the cess hike which may almost reflect the prices in the pre-GST scenario", N. Raja, director & senior vice-president, Marketing and Sales at Toyota Kirloskar Motor, said.
The council has levied cess of 2 percent on mid-sized cars, 5 percent on large cars and 7 percent on SUVs. The approximate price increase in Delhi for Innova Crysta will be up to Rs 78000, All New Fortuner up to Rs 160000, All New Corolla Altis will witness a price rise of up to Rs 72000 and Platinum Etios price will increase up to Rs 13000.
"Following the ordinance on GST amendment, we have to revise the price of our products in line with the cess hike which may almost reflect the prices in the pre-GST scenario", said N. Raja, Director and Senior Vice President, Marketing and Sales, Toyota Kirloskar Motor. Small cars and hybrids, however, were spared from the cess hike.
DUP set to back Labour motion on NHS pay cap
Because the motion was not binding it would not have amounted to a breach of the £1 billion Tory/DUP deal. On Tuesday, Downing Street confirmed the one percent limit on public sector pay rises is to be scrapped .
As a result of the hike in cess, the total tax incidence on mid-size cars, large vehicles and SUVs now stands at 45 percent, 48 percent and 50 percent, respectively.
However, the cess on small petrol and diesel cars, hybrid cars and those carrying up to 13 passengers has not been raised.
The goods and services tax (GST) sets out four different rates of between five and 28 per cent for businesses instead of the one originally envisioned.
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