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Buying old electric and small cars will be expensive, GST increased from 12% to 18%
Buying old cars from registered sellers will become expensive in the coming time. The reason for this is that the GST Council has now decided to impose 18 percent GST instead of 12 percent on the sale of old electric cars along with old small cars (1200 cc capacity and less than four meters in length). However, no GST will be levied on buying and selling cars individually.
Buying old cars from registered sellers will become expensive in the upcoming time. The reason for this is that the GST Council has now decided to impose 18% GST instead of 12% on the sale of old electric cars along with old small cars (1200 cc capacity and less than four meters in length).
However, no GST will be levied on sales and purchases of cars as an individual. Such a GST will be levied only on the margin of the registered seller instead of the total value of the old vehicle. In another development, the Council removed the GST on the penal charge or punitive fee, which is imposed on defaults for failing to pay dues or monthly installments (EMI) within the stipulated time.
The finance minister, Nirmala Sitharaman, said after the meeting of the GST Council held in Jaisalmer that this decision would bring great relief to the businessmen. According to the decision of the Council, now 18% GST will be levied on sweet popcorn mixed with caramel. It was told that adding caramel changes its taste, so the GST category of this popcorn changes.
