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Small Car Prices May Tumble on GST Implementation

Small cars are currently taxed at 30%, while taxes on luxury sedans and SUVs are in the range of 40-50%
Small cars are currently taxed at 30%, while taxes on luxury sedans and SUVs are in the range of 40-50%
Car prices could come down significantly if the government-appointed panel's recommendation of a standard tax rate of 17-18 per cent for most goods and services is accepted. Manufacturers, which currently pay 30-50 per cent taxes on cars, are likely to pass the benefits of lower taxes to consumers, analysts say. "The automobile sector could benefit significantly from GST if the government accepts the recommendations of the GST panel...
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