MotorUse brings you the effect GST is having on used cars all over. India. People dealing with used cars and customers who are planning to go for the same need will have to update some knowledge.
GST has at long last been executed in the country from July 1, 2017 and the new auto industry invited it with open arms. Barring mixtures, there’s been a huge reduction in costs over all sections, particularly the extravagance space. Be that as it may, shouldn’t something be said about the used car-advertise? What will GST do to India’s perpetually developing used auto space? We discover.
Prior to the execution of GST, merchants needed to pay an esteem included expense (VAT) of 5 for every penny. Post-GST, merchants will now need to pay 28 for each penny GST – same as that connected on new autos – on the deal/price tag of a used vehicle, which is impressively higher contrasted with the pre-GST time.