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All thanks to the new
tax rates that are applicable from 25th January, resulting in pre-owned cars
getting cheaper in India. The move announced in the recent GST Council meeting
is expected to give a boost to the sluggish sales in the used car market with
the new GST rate decreased from 28% to 18% for medium and large used cars and
SUVs, and 12% on small used cars.
The council made a number of revisions to the tax rate on 20
items including used vehicles. Under the revised decision, GST rates on used
cars have been reduced, while cess was removed across several categories. The
move is supposed to give a big push to the used car segment that accounts for a
substantial number of sales every year.
These new GST rates will only be applicable when a used car
dealer sells a car to an individual and not on an individual to individual
deal.
The GST cut will apply to all types of old and used motor
vehicles on the margin of the supplier, subject to the condition that no input
tax credit of central excise duty/value added tax or GST paid on such vehicles
has been availed by him.
Besides used cars, the GST council also slashed the tax
rates on public transport buses that source energy from the green fuel. In
addition, the GST Council announced that Cess on ambulances will also be
abolished completely, as against the earlier rate of 15%.
Shriram Automall India Limited (SAMIL) - The leader of the
used automobile market in the country, with latest GST rates is expected to
dispose the largest numbers of used vehicles and equipment, as company offers
the best line up of used vehicles and equipment of every make and model in the
country through its 70+ well established Automalls and 150+ bidding locations
in every nook and corner.
So, what are you waiting for? If you desire to acquire new
like used ride for yourself at the most optimal prices visit your nearby
Automall today or click the link below to register yourself and to go through
the company's online inventory.
Link:
Download My SAMIL
Mobile App:
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