All About Upcoming GST Reforms
Automobiles
- 9 month, 2 days ago
India's automobile sector could be in for a major shake-up, as the government prepares to restructure GST rates under sweeping tax reforms. Automobiles currently attract 28% GST-the highest slab in the regime-along with a compensation cess of 1% to 22% depending on engine capacity and size. This often pushes the total tax incidence on cars anywhere between 29% (small petrol cars) to a hefty 50% (SUVs).