Web2 days ago · The government aims to have EV sales accounting for 30 per cent of private cars, 70 per cent for commercial vehicles and 80 per cent for two-and three-wheelers by … WebApr 11, 2024 · "However, the contribution made by private sector employer towards Tier 1 NPS account is eligible for tax deduction under section 80CCD (2) up to 10 per cent of employee’s basic pay plus ...
Govt puts plan to cut GST on certain categories of ... - India Today
WebThe GST rates for small cars continues to stay at 43%(28% GST+15% Cess) while a new mid size segment for cars has been created with a new total GST rate of 45%(28% … Web2 days ago · The government aims to have EV sales accounting for 30 per cent of private cars, 70 per cent for commercial vehicles and 80 per cent for two-and three-wheelers by 2030. rotary f1 car
GST Rate on Used Cars: How much Tax applies on Used …
GST on cars in India is applicable across multiple slab rates of 5%, 12%, 18% and 28%. The most relevant GST rate on cars is 28% that applies to motor vehicles including those for personal as well as commercial use. The lowest GST rate on vehicles of 5% applies to carriages for use by disabled people and related … See more Compensation cess is a type of charge levied on certain goods in addition to the applicable GST and it was introduced as part of the GST Act. Under the VAT regime, tax was collected by the producer states in case there … See more Commercial vehicles such as those designed for carrying passengers, goods or for agricultural use typically feature a GST rate ranging from 12% to 28%. The following are some key cases where 12% GST is applicable: 1. … See more At the time of vehicle sales, a compensation cess is applicable in addition to the GST on cars. The following is a table showing the applicable tax rates on vehicles for private use after taking into account the … See more WebDec 18, 2024 · Vehicles meeting all these criteria qualify as SUVs in the eyes of the GST laws and will attract the highest rate of tax ie 28 per cent GST and 22 per cent cess or … WebJun 9, 2024 · Honda Hr-v. Currently, lithium-ion batteries attract a GST of 18 percent, whereas the overall cost of an electric vehicle in India attracts a GST of 5 percent. The rate of GST on EV batteries was higher before 2024. It used to attract 28 percent, which was reduced to the current rate by the GST Council four years ago. rotary fa7500-2