Stop calling luxury cars sin goods; reduce GST, says JLR
Updated : June 30, 2019 03:25 PM IST
Jaguar Land Rover India president Rohit Suri said that if the criteria of sin goods classification is based on its high cost, then even going to five-star or wearing expensive shirts and shoes would also be 'sin'.
At present, luxury vehicles in India attract top GST slab of 28 per cent and additional cess of 20 per cent on sedans and 22 per cent on SUVs, taking the total tax incidence to 48 per cent and 50 per cent, respectively.
At present, the Indian luxury vehicles market is around 40,000 units annually, and JLR with its product portfolio addresses a segment of around 27,000 units.
Have you signed up for Primo, our daily newsletter?It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more