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Tag: GST on luxury cars
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GST 2.0 Effect on Second-Hand Cars: How Buyers and Sellers Will Be Impacted
The launch of GST 2.0 is creating ripples across multiple industries, and the second-hand car market is no exception. India has one of the largest pre-owned car markets in the world, with annual sales surpassing new car sales in many regions. With GST 2.0 introducing changes in tax rates and compliance rules, both buyers and…
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New GST Rates from September 22: Highest Tax on Luxury Items – Full Sector-Wise List
The Government of India has revised the Goods and Services Tax (GST) rates, effective September 22, impacting multiple sectors. This update brings both relief and burden depending on the category of goods. While some essential items continue to attract lower taxes, luxury and high-value products have been moved to the highest GST slab of 40%.…