GST AND ITS EFFECTS ON PRE-OWNED VEHICLE MARKET!

Today is a historic day for our country. GST has finally been rolled out. Our dream of one nation one tax has come true. All the multiple state and central taxes go out and are replaced by with a single levy. Cars falling under luxury bracket will attract 28% flat GST. Over and above, an extra cess of 1, 3 or 15 per cent is proposed depending on the classification of cars. This has brought the earlier tax hit down making these cars marginally cheaper. Two-wheeler prices are also expected to come down owing to the lowering in the total tax imposed on these vehicles.

However all vehicles are not going to get cheap. Bikes above 350cc are going to get expensive by a margin. All Enfield fans may have to shell out more from their pockets to own the beast on the road. Billing has stopped on most OEMs as they are migrating to new GST rollout and recalculating the offered prices but as we see it, GST is going to help most Indians with uniformity in Tax structure.

For people not looking out for new vehicle purchase, used car space is something they can always bank on.  For Used cars tax is only on the marginal amount of the used car not on the total value of the car. Used cars transaction between individuals or by individual to a firm won’t be treated as taxable transaction under GST, but firm will be liable to pay the GST under transaction with the individual.

The tax will apply only on cars sold by registered vendors. The GST rates for second-hand car transactions will be the same as the new cars of the same make i.e. 29% for small cars or 43% for all the other cars. With the biggest name in this field, Shriram Automall always helps customers looking for pre-owned vehicles in top condition to make them own the vehicle of their dream.

As per government norms, The Company is also replacing their existing Service tax rate of 15% by GST rate of 18%. Shriram Automall is the no.1 solution provider for providing used vehicles in good quality and at optimal prices. The company has made the complete process so easy and accessible by providing the large number of inventories at a single place.

So, if you are looking forward to buy used vehicles, ShriramAutomall is right choice which provides you best of their services while making your experience both easy and comfortable. Click the Link below to register.

 http://bit.ly/2c2UwQN