Tag Archives: Used

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 »

The Best Deals In Off-Lease Used Cars

The 2014 Cadillac CTS is one of the best deals among used cars, having already lost 51.4% of its original value, according to the used vehicle website iSeeCars.com. ( FREDERIC J. BROWN/AFP/Getty Images) With car dealers’ lots being flooded with a tsunami of off-lease vehicles returning to the market following the big post-recession new-car sales surge, used car shoppers are ... 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 »

GST Rate on Used Cars: Creating An Unintended Challenge for the Automotive Industry

Watching the proceedings in the central hall of the Parliament last night, one couldn’t help but feel the significance of the moment. We saw history in the making, no doubt, and a strong signal to the world that Indian reforms are well on their way. A transformation of this scale and scope is undoubtedly complex and will also be accompanied ... Read More »

Used Car Sales Going Strong in U.S: Analysts

While new car sales have slipped from 2016, robust demand for used vehicles means US car dealerships will still see strong sales this year, industry analysts said Wednesday. Jonathan Smoke, the chief economist for Cox Automotive, said the data already indicate the shift to more used vehicles is well underway.  “Dealers are selling more vehicles but the mix is changing ... Read More »

Sale of used cars: GST only on margins made by dealer, says Adhia

The GST rates for second-hand car transactions will be the same as the new cars of the same make — 29 per cent for small cars or 43 per cent for all the other cars. The sale of second-hand cars on the vendor platforms will attract goods and services tax (GST) only on the margins made by the dealer, revenue ... Read More »

Used cars should be checked thoroughly before purchase

Buying used car? Keep an eye out for these factors Used car market is steadily rising in India, as working millennials now prefer to travel according to their convenience instead of having to wait for public transport, or take that weekend trip to rejuvenate themselves. In case you are planning to buy a used car soon or would like to ... Read More »

Looking for a used car? A new used car retailer is coming to the Grand Strand

CarMax, a used car retailer, is coming to Myrtle Beach, located at 4649 Factory Stores Blvd, acting as the fourth location in South Carolina along with Charleston, Greenville and Columbia. According to CarMax public relations representative Dietta Slayton, the Myrtle Beach location will have around 200 vehicles in stock, and will operate with other CarMax stores to transfer vehicles across ... Read More »

GST effect: Used car business could impact the new car market in India

The Goods and Services Tax (GST) that will be enforced from 1 July has the potential to realign the largely unorganized used car market into a more organized frame work say industry leaders. Interestingly, sale of old and new cars is inextricably linked. It is estimated that about 27-28 percent of new car sales accrue through exchange of old models. ... Read More »

Used car website Auto Trader’s profits up 18 per cent

Operating profit in the 12 months to March 31, 2017 was £203.1million, up 18 per cent on the previous year. The increase was driven by a 9 per cent increase in revenue, to £311million, and a 6 percentage point rise in operating margins, to 67 per cent. The group also declared a higher final dividend, bringing the total for the ... Read More »