What is the Effect of GST on the Price of Cars?
Should I buy now or wait for GST price?
GST will have vivid effects on different type of cars. The most selling sub 4 meter petrol and diesel cars will get a reduction in tax rates by up to 2.5 percent. Luxury cars and SUV’s are nor taxed at 43 percent, bringing down the total value by around 12 percent.
The same tax is levied on cars above 4 meter while pure electric cars will be taxed at just 12 percent. Hybrids are now charged with a higher value of tax. The real effect will be visible from July 1, 2017 but you can go ahead and buy your favorite car as the current discounts are much higher than anything that will occur after the GST roll out.