Luxury Goods taxes

Tax Glossary Definition

Luxury Goods taxes

Luxurious goods tax refers to a tax levied on high-value or luxury items, which was previously a separate levy but is now subsumed under the Goods and Services Tax (GST) regime. Such taxes are intended to target non-essential, high-cost goods and generate additional revenue. Example: Luxury cars attract GST at 40%, reflecting the taxation of high-value luxury items.

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