If you like fancy or VIP number plate in your car then be careful! Government preparing to impose tax: slogan
GST on fancy number plate: Often you must have seen vehicles with special numbers or fancy number plates. If you are also fond of fancy numbers, then now the government can charge 18 to 28 percent GST on using favorite numbers. GST rates on about 100 such items can be reviewed in the proposed ministers' meeting on GST on October 20. According to sources, there may be a discussion on imposing GST on VIP number plates in the meeting. This suggestion was given by the Uttar Pradesh government.
The proposal has been sent to the Finance Ministry
A proposal to impose GST on fancy number plates has been sent to the Finance Ministry. The proposal asks the Finance Ministry whether fancy numbers can be classified as luxury items. Along with this, the proposal also talks about collecting GST at a higher rate of 28 percent.
Field structures are also recommended
According to reports, Field Formation has written to the Central Board of Indirect Taxes and Customs asking it to clarify whether GST is payable on fancy number plates in the country, as Field Formation believes that fancy number plates are a luxury. Is an object. Therefore, 28 percent GST should be imposed on it.
What is the function of field structures?
Field Formation is an office of the Central Government which covers all the states. Which works to collect taxes and enforce tax related rules. If the government accepts this proposal, then more money will have to be spent to get the fancy number.
People spend lakhs to get fancy numbers
The allotment of number plates for vehicles is done by the state government officials, the state government itself conducts auctions for allotment of fancy numbers for which additional fees are paid and people spend lakhs of rupees to get the fancy numbers. Are.
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