New Delhi: With Finance Minister Arun Jaitley proposing a 1 per cent cess on LPG, CNG and other cars in his budget for 2016-17 fiscal year, new cars and SUVs are set to go costlier.
Jaitley announced a 1 per cent pollution cess on small petrol, LPG and CNG cars. He also proposed an additional 2.5 per cent cess on diesel cars of certain specifications.
Moreover, another 1 per cent luxury tax will be levied on cars costing above Rs 10 lakh.
There will also be a 4 per cent tax on SUVs.