Luxury Tax On Cars
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Operation Numkhor: Authorities Crack Down On Luxury Car Collection, Raid Dulquer Salmaan's House
The car collection of Dulquer Salmaan includes models like Ferrari 296 GTB, a Porsche 911 GT3, a Mercedes-Benz SLS AMG, and a BMW M3 E46.
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New Revelation In Dulquer Salmaan's Luxury Car Tax Evasion Case
Dulquer Salmaan's Toyota Land Cruiser is registered in the name of another person, said sources, as the Malayalam superstar faces probe for luxury car tax evasion.
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Maruti, Tata To Mercedes And Toyota, Cars That Will Get Cheaper With GST 2.0
GST 2.0 has slashed tax on small cars from 28% to 18%, while luxury vehicles will now be taxed at 40% flat, making cars significantly cheaper.
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Tax Cuts, Sales Boost: Everything You Need To Know About New GST Rates
Finance Minister Nirmala Sitharaman unveiled tax cuts for hundreds of consumer items, from soap to cars, in the biggest overhaul of the goods and services tax (GST), set to take effect from September 22.
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Despite 40% GST, Big Cars And SUVs May Become Cheaper: NDTV Explains
Union Finance Minister Nirmala Sitharaman announced the new tax infrastructure yesterday. Here's what luxury car buyers get with the new GST regime.
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Cigarettes, Cold Drinks, Big Cars And Bikes: 40% GST For Sin, Super Luxury Items
The GST Council, chaired by Finance Minister Nirmala Sitharaman, cut the current four slabs down to two - scrapping the 12 per cent and 28 per cent rates, while retaining the 5 per cent and 18 per cent slabs.
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Tax Panel Plans Steep Levies On Luxury Electric Cars In Blow For Tesla, BMW
A tax panel has proposed steep increases in consumer levies on luxury electric cars priced above $46,000, a government document showed, a move that could impact sales of carmakers such as Tesla, Mercedes-Benz, BMW and BYD.
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Rolls Royce, Lamborghini, Crores Of Cash Seized From Tobacco Baron's Home
The Income Tax department executed a series of raids on Banshidhar Tobacco Company, unearthing a complex web of financial manipulations that extend across various states and even overseas.
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Madras High Court Bench Deletes Remarks Made By Single Judge Against Actor Vijay
A division bench of the Madras High Court on Tuesday expunged the adverse remarks made by a single judge against top Tamil actor Vijay on the issue of entry tax over the import of a luxury car from England in 2012.
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Rolls-Royce Sold By Bollywood Star Among Luxury Cars Seized In Bengaluru
At least seven luxury cars were seized on Sunday by transport authorities in Bengaluru for not paying tax and lacking ownership documents, officials said.
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Union Budget 2021: Luxury Carmakers Hope For Lower Taxes, Stable Policy And Incentives On EVs
The Union Minister of Finance, Nirmala Sitharaman is all set to announce the budget for Financial Year 2021-22, on February 1. Given the eventful year, we have had, the auto industry has some kind of relief expectations from the upcoming budget, considering it was one of the highly impacted sectors. The luxury car segment in particular, which has a...
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India To Extend Surcharge On Taxes On Luxury Cars Beyond 2022
The surcharge on luxury goods, which varies from 12% to 200%, is part of the national goods and services tax (GST) introduced in 2017, and was due to expire in 2022.
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BMW's Higher Margin SUV Sales Help Drive 33% Profit Rise In Germany
BMW's third-quarter operating profit rose 33 per cent on stronger sales of sports utility vehicles as well as the absence of one-off factors which had depressed earnings a year earlier, the German luxury carmaker said on Wednesday. The Munich-based company said its earnings before interest and taxes (EBIT) rose to 2.29 billion euros ($2.54 billion)...
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High Tax On Luxury Cars Restricting Market, Preventing Local Assembly Of More Models: Jaguar Land Rover India
The auto industry has been going through a slump in volumes since the past eight months and sales continue to remain disappointing as we move into the ninth month of this de-growth. Luxury carmakers have been equally affected by the slowdown and manufacturers collectively asked for relief in the GST rates that might work as a short in the arm for t...
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Stop Calling Luxury Cars As Sin Goods; Reduce GST: Jaguar Land Rover
Luxury cars are often under scrutiny for being extravagant purchases, which has resulted in the cars attracting the highest taxation. However, Jaguar Land Rover India's President and Managing Director, Rohit Suri believes that the government should stop classifying luxury cars as sin goods and reduce the tax burden on such vehicles. In a statement ...
-
Operation Numkhor: Authorities Crack Down On Luxury Car Collection, Raid Dulquer Salmaan's House
The car collection of Dulquer Salmaan includes models like Ferrari 296 GTB, a Porsche 911 GT3, a Mercedes-Benz SLS AMG, and a BMW M3 E46.
-
New Revelation In Dulquer Salmaan's Luxury Car Tax Evasion Case
Dulquer Salmaan's Toyota Land Cruiser is registered in the name of another person, said sources, as the Malayalam superstar faces probe for luxury car tax evasion.
-
Maruti, Tata To Mercedes And Toyota, Cars That Will Get Cheaper With GST 2.0
GST 2.0 has slashed tax on small cars from 28% to 18%, while luxury vehicles will now be taxed at 40% flat, making cars significantly cheaper.
-
Tax Cuts, Sales Boost: Everything You Need To Know About New GST Rates
Finance Minister Nirmala Sitharaman unveiled tax cuts for hundreds of consumer items, from soap to cars, in the biggest overhaul of the goods and services tax (GST), set to take effect from September 22.
-
Despite 40% GST, Big Cars And SUVs May Become Cheaper: NDTV Explains
Union Finance Minister Nirmala Sitharaman announced the new tax infrastructure yesterday. Here's what luxury car buyers get with the new GST regime.
-
Cigarettes, Cold Drinks, Big Cars And Bikes: 40% GST For Sin, Super Luxury Items
The GST Council, chaired by Finance Minister Nirmala Sitharaman, cut the current four slabs down to two - scrapping the 12 per cent and 28 per cent rates, while retaining the 5 per cent and 18 per cent slabs.
-
Tax Panel Plans Steep Levies On Luxury Electric Cars In Blow For Tesla, BMW
A tax panel has proposed steep increases in consumer levies on luxury electric cars priced above $46,000, a government document showed, a move that could impact sales of carmakers such as Tesla, Mercedes-Benz, BMW and BYD.
-
Rolls Royce, Lamborghini, Crores Of Cash Seized From Tobacco Baron's Home
The Income Tax department executed a series of raids on Banshidhar Tobacco Company, unearthing a complex web of financial manipulations that extend across various states and even overseas.
-
Madras High Court Bench Deletes Remarks Made By Single Judge Against Actor Vijay
A division bench of the Madras High Court on Tuesday expunged the adverse remarks made by a single judge against top Tamil actor Vijay on the issue of entry tax over the import of a luxury car from England in 2012.
-
Rolls-Royce Sold By Bollywood Star Among Luxury Cars Seized In Bengaluru
At least seven luxury cars were seized on Sunday by transport authorities in Bengaluru for not paying tax and lacking ownership documents, officials said.
-
Union Budget 2021: Luxury Carmakers Hope For Lower Taxes, Stable Policy And Incentives On EVs
The Union Minister of Finance, Nirmala Sitharaman is all set to announce the budget for Financial Year 2021-22, on February 1. Given the eventful year, we have had, the auto industry has some kind of relief expectations from the upcoming budget, considering it was one of the highly impacted sectors. The luxury car segment in particular, which has a...
-
India To Extend Surcharge On Taxes On Luxury Cars Beyond 2022
The surcharge on luxury goods, which varies from 12% to 200%, is part of the national goods and services tax (GST) introduced in 2017, and was due to expire in 2022.
-
BMW's Higher Margin SUV Sales Help Drive 33% Profit Rise In Germany
BMW's third-quarter operating profit rose 33 per cent on stronger sales of sports utility vehicles as well as the absence of one-off factors which had depressed earnings a year earlier, the German luxury carmaker said on Wednesday. The Munich-based company said its earnings before interest and taxes (EBIT) rose to 2.29 billion euros ($2.54 billion)...
-
High Tax On Luxury Cars Restricting Market, Preventing Local Assembly Of More Models: Jaguar Land Rover India
The auto industry has been going through a slump in volumes since the past eight months and sales continue to remain disappointing as we move into the ninth month of this de-growth. Luxury carmakers have been equally affected by the slowdown and manufacturers collectively asked for relief in the GST rates that might work as a short in the arm for t...
-
Stop Calling Luxury Cars As Sin Goods; Reduce GST: Jaguar Land Rover
Luxury cars are often under scrutiny for being extravagant purchases, which has resulted in the cars attracting the highest taxation. However, Jaguar Land Rover India's President and Managing Director, Rohit Suri believes that the government should stop classifying luxury cars as sin goods and reduce the tax burden on such vehicles. In a statement ...
