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GST Effect on Used Cars Deals: Buyers Pay More, Sellers Fetch Less

The Indian government has clarified that the Goods and Services Tax (GST) on used cars will be paid only on the margins made by dealers. There will be no incidence of GST on deals between individuals, as it is assumed that the taxes have already been paid at the time of buying a new car and charging GST on a ... Read More »

Posting photos of new car, fancy dinner on Facebook? Income Tax dept is now watching

Tax evasion is a big problem in India. So now government is not only hoping to monitor how much money people get into their bank accounts and how much they take out but also wants to monitor the Facebook, Instagram and other social media sites to see what people are buying. By keeping a note of the Facebook posts that ... Read More »

‘It’s the future of motor travel’: readers on driving electric vehicles

Øivind Johansen with his e-NV200 charging at Teie, Nøtterøy in Vestfold county. Photograph: Øivind Johansen Amid fears that rising levels of nitrogen oxides pose a major risk to public health, Britain plans to ban all new petrol and diesel cars and vans from 2040. As part of the government’s much-anticipated clean air plan it has said the move is needed because of ... Read More »

Additional cess above GST to be removed on used car sales

Earlier Maharashtra had enforced an additional road tax of 2 percent on varying vehicle rates over and above the GST on purchase of new vehicles. This 2 percent cess was to replace the existing octroi duties in the state. NEW DELHI: Good news seems to be in the offing for the used car market. The additional cess of 15 percent that was to be imposed ... Read More »

Additional cess above GST to be removed on used car sales

NEW DELHI: Good news seems to be in the offing for the used car market. The additional cess of 15 percent that was to be imposed on certain categories of second hand vehicles will now not be chargeable, according to a recent notification by the Under-secretary to the Government of India. For instance certain categories of larger vehicles in the above 4 metre range were ... Read More »

No GST On Used Car Sold By Individual

The Revenue Department today clarified that sale of old jewellery as well as old vehicles by individuals will not attract any GST as the sale is not for furthering any business.Clarifying on Revenue Secretary Hasmukh Adhia’s comments yesterday, the department issued a press statement saying it was informed at GST Master Class yesterday that “purchase of old gold jewellery by ... Read More »

Used-Car ‘Time Bomb’ Expected to Drag on U.S. Auto Sales

It’s going to be tough to beat last year’s record U.S. sales of 17.55 million cars and trucks, according to a new study released Wednesday by AlixPartners. The consultancy expects a total of more than 1 million vehicles to come off lease last year and this year, creating a “used-car time bomb” that drags on demand for new autos. For the ... Read More »

This Simple Service Will Save You Thousands on a New Car

Buying a new car is a hassle. Even after you’ve determined which make and model you’re set on, you’ve got to put on your armor and mentally prepare yourself for battle with the salespeople at the dealership. You just know they can go lower on price and things can quickly devolve into a test of willpower, with you holding your ground to ... Read More »

Accelerator on AI, cars set to vroom into the future

Collaboration between carmakers, automobile OEMs and tech companies critical as market will be driven by shared mobility, connectivity services and feature upgrades. Key highlights Increased collaboration between Apple and Google in over 200 car models. Bosch and Continental can work with various cloud providers and device manufacturers for car services. Future is in data and the car is a device. ... Read More »

GST impact on the used car market: Here is how much your new but pre-owned car would now cost

GST or Goods and Services Tax came as a good decision for the Indian automotive industry. A number of segments witnessed a considerable drop in their ex-showroom price which includes the requisite tax. Cars categorised in the SUV segment as well as most other segments have seen a considerable drop in prices. Annoyingly though, hybrids are now more expensive while ... Read More »