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April 26, 2022
GST on Cars in India
Introduction
Goods and Services Tax (GST) currently applies to most goods and services in India including motor vehicles. GST on cars in India is applicable on multiple slab rates of 5%, 12%, 18%, and 28%. The most relevant GST rate on cars is 28% that applies to motor vehicles including those for personal as well as commercial use. Additionally, a compensation cess of up to 22% may be levied on cars in addition to the 28% GST that is applicable. Hence, the maximum rate effectively can increase to as high as 50% in some cases.
GST rates have been defined for used cars as well. Recently in the 36th GST council meeting, it was decided to reduce rates on electric cars to 5%, which is seen as a drastic boost to the automobile industry and electric vehicles in specific.
Continue Reading:
GST on Cars for Personal Purpose.
GST Rate on Electric Vehicles and Electric Cars.
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