12 July 2023 by Gagan Modi
SUV and MPV Cars to get 2% to 5% hike as GST with Compensation Cess Rates hiked to 50% in July 2023
SUV Cars will tend to get costlier from immediate effect as GST Council revised with a hike on GST Rates. As per New Criteria, cars which are
will attract GST + Compensation Cess of 50%. Do note that Ground Clearance rules were 170 mm as Laden one in previous rules, which means that Ground clearance criteria would be met only if car was like fully loaded (with all passengers and fuels), which now changed to Unladen one - means what is the ground clearance of car even without any passenger.
If its more than 170 mm in Unladen one and car having bigger engine than 1.5 Litre and length more than 4 meter then GST and Compensation Cess of 50% would be applicable. An exception to rule is that Hybrid Cars wont be impacted by this rule where GST + Compensation Cess will continue to be incurred at rate of 43%
Below Cars will get Price Hike as GST+Cess raised to 50% (from earlier 45% to 48%)
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Companies whose cars not going to get impacted