Used Or Pre-Owned Cars To Cost Significantly Less After GST Rate Revision

Of the so many goods and services on which the GST Council revised their rates lower are included one category of product ie. Used or pre-owned car that by chance can be your next hunt. So to your relief, with effect from January 25, you can expect a big cut in their price as against the previous regime.

The pre-owned cars now depending on their size shall now attract a GST rate of between12-18% which after the implementation of GST on a nationwide basis was put in the highest tax slab rate of 28%. Not only this an hefty cess charge of between 1-15% was being charged to add to the total cost for the used car buyer. But this after the recent meet has been withdrawn away.

In the pre-GST era only 5% VAT was being shelled out by the pre-owned car dealer which after GST implementation turned out to be so heavy for pre-owned car buyers.

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