Vehicles for personal use such as motor cars, motor vehicles and even bicycles feature GST ranging from 5% to 12%.
GST rate applicable to vehicles is 5% on carriages (motorized/non-motorized) for use by disabled persons. The same 5% GST rate also applies to parts/accessories of carriages for use by disabled people.
This rate was introduced at the 31st GST Council Meeting held in December 2018.
GST is applicable at 28% on cars for private use but the compensation cess may differ based on key factors such as the size of the car’s engine and the length of the car. Such specifications are in line with the Motor Vehicle Act, 1988.
Also read:-
Critical steps Indian Entrepreneurs miss in US Company Registration Introduction Many Indian entrepreneurs want to grow their startups by starting…
Why Most Virtual CFO Services Fail Startups: A Checklist to Choose the Right One for Your BusinessIntroduction: The Virtual CFO…
Why Your Trademark Check Should Include AI-Generated Brand Names: The Next Big Blind Spot in Indian IP Filings Introduction: The…
MCA V3 Portal Update for FY 2024-25: New AOC-4 and MGT-7 Filing Requirements Explained Introduction For the financial year 2024-25,…
Hidden Costs of US Company Registration for Indians Introduction Many Indian business owners want to expand to the US for…
Post Incorporation Compliances immediately After Pvt Ltd Registration: Critical Steps Most Startups Skip Introduction Getting your Pvt Ltd company registered…
Leave a Comment