GST Council Meeting: Cars will become cheaper during Navratri! Which cars can get cheaper, know the answer to every question..

Big changes are being made in GST by the central government; for this, the GST Council meeting has started. It has been said that this time, GST will be changed to a two-slab system; currently, there are four slabs in the GST structure. Apart from this, the GST rate can be reduced by 8 to 10 percent on many things. The people who are planning to buy a car are mostly waiting for the change in GST. This is no less than a gift for the people before the festivals. Let us know by when your favorite car is getting cheaper and how much its price is going to come down.

Why are the prices coming down?

Now the first question is why the prices of cars are going to come down. The reason for this is the change in GST rate. At present, GST is being levied at up to 28 percent on small cars, which is proposed to be reduced to 18 percent. If this proposal is approved in the GST Council meeting, then the prices of cars will come down.

What are the expectations of traders from the GST Council meeting? These sectors will benefit.

Which vehicles will be priced less?

The second question is which vehicles will be affected by the change in GST rates. The reduction in tax slabs will affect small cars.

The prices of cars that are less than four meters in length may come down.

The prices of petrol cars, which have an engine up to 1200 cc, will also come down.

These include cars like Tata's Punch, Tiago, Nexon, and Maruti's Baleno, Dzire, Alto, and Wagon-R.

How much will the prices go down?

The third question is how much the prices of these cars, which are less than four meters in length, go down. If you are also planning to buy one of these cars during the festivals, then you can get a benefit of 50 to 70 thousand rupees. There will be a saving of 60 to 80 thousand rupees on cars like Baleno, Dzire, and Wagon-R.

How much tax has to be paid now?

Talking about the current tax slab, petrol cars of 1200 cc and less than 4 meters in length have to pay 28% GST with 1% cess. That is, a 29% tax has to be paid on small cars. On the other hand, for diesel cars of 1500 cc and up to four meters in length, there is 28% GST with 3% cess. Which is 31% in total. For mid-size cars, there is 28% GST with 15% cess, which is up to 43%.

How much can the tax be reduced?

Small cars, which are currently paying 28% GST with 1% cess, will have to pay 18% with 1% cess. On the other hand, the total tax for the rest of the cars can be limited to 40%.

When will the new prices be applicable?

It is being said that after the proposal is approved in the GST Council meeting, new prices can be applicable from September 22. The government can give this gift to the public before Navratri; that is, you can book your dream car during Navratri itself. If the GST rate is reduced, a significant increase can be seen in the sale of cars. The auto sector will also get a huge boost from this.

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