Luxury Cars to Cost More

Published: 16th November 2014 06:24 AM  |   Last Updated: 16th November 2014 06:24 AM   |  A+A-

KAKKANAD : Purchasing luxury cars costing more than `20 lakh will turn bitter now, with the Motor Vehicle Department gearing up to implement the ordinance on tax collection from Monday onwards.   As per the ordinance, which was reversed earlier, the tax on cars costing more than `20 lakh has been increased to  20 per cent from 15 per cent.

The Cabinet had delayed the order as it had not set the date for implementing the additional tax.  

The Cabinet issued the ordinance to impose additional tax on cars, water, large houses and other luxury items last month, in a bid to shore up revenue.

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