NEW DELHI:
That would mean the tax will be different for enterprises which use cars for their business operations from those that use them as stock in trade or as inventory -- for example, a used car dealership.
The GST Council last week recommended harmonising the tax rate on used cars at 18%, which meant the rate for used small cars, including electric vehicles, moved up from 12%. It applies only on the margin of the selling enterprise.
GST is not applicable if one individual sells it to another.
This story is from the December 26, 2024 edition of Hindustan Times Gurugram.
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This story is from the December 26, 2024 edition of Hindustan Times Gurugram.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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