Should you buy a small car cheaper on Diwali? What will be the effect on SUV and electric vehicles with GST cuts?

If you are considering buying a new car this Diwali then this news is special to you. Recently, the government is considering a change in the structure of tax on goods and services (GST). On the Day of Independence, Prime Minister Narendra Modi talked about making the tax system simple and beneficial to the ordinary people. Since then, the discussion of the decline in car prices has strengthened. Buying a small car on Diwali is right. At present, small cars also have an extra strike by 28% GST, causing a total tax of about 29%. This is why small and medium class cars are expensive for customers. There is a discussion that it is suggested to bring trains with a hatchback and an engine less than 4 meters long and 1200 cc to 18% GST plate. If it applies, small cars can get up to 10-11%relief. That is, while buying a car on Diwali, thousands of rupees will be less than your pocket. For the first time, if you are considering buying a car for the first time or your budget is limited, Diwali may be the perfect time for you. Tax cuts will make hatchback and compact cars cheaper, and festive offers from companies can also save you more. How much impact on SUVs and luxury cars is currently taxed from 43% to 50% on SUVs and luxury cars. It is discussed that it can be brought up to 40%. However, it will not have much effect. That is, expensive car buyers will get less relief than small cars. Diwali offers a double advantage of car businesses always attractive offers and discounts for Diwali’s sake. Many times businesses also offer a cash discount of up to £ 1 lakh with exchange bonuses and cashback offers. Therefore, if the government is applying new GST rates and Diwali offers are also available, it may be the right time to buy a car. Share this story -tags