Bill to hike Cess on Motor vechiles passed in Lok sabha

     Written by : SMTV24x7 | Wed, Dec 27, 2017, 06:53 PM

Bill to hike Cess on Motor vechiles passed in Lok sabha

New Delhi Dec 27: The Lower House on Wednesday passed 2 Key bills. The Loksabha has passed
National Capital Territory of Delhi Laws (Special Provisions) Second (Amendment) Bill, 2017
Good and Services Tax (Compensation to States) Amendment Bill, 2017

The NCT bill aims to extend the deadline of a law to protect slums and unauthorized colonies in the national capital till 2020. The Minister had said that the Bill was necessary because the Delhi government had earlier submitted an affidavit that it would require 2 more years
to clear the unauthorized colonies in the national capital.

The GST bill aims to increase the cess levied on certain items such as motor vehicles and other items as the companies have gained heavily from the taxation and the increased revenue would be utilized to compensate the loss occurring to states. The cess has been hiked to
25 %. Finance Minister Jaitley has replied to the bill.