Fact Check of Nirmala Sitharaman New Statement on 18% GST on Secondhand Car Sales #shorts #viral

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Fact Check of Nirmala Sitharaman New Statement on 18% GST on Secondhand Car Sales Explained #gst

Will the GST hike increase used car prices?
If you purchase a car from an individual, the GST hike won’t affect the price. However, buying from dealers or platforms like OLX or CarDekho may lead to higher prices, as GST applies to the dealer’s margin.

What is the GST on used EVs?
A standard 18% GST now applies to all used vehicles, including EVs and SUVs.

How is GST calculated on used cars?
GST applies only to the margin—the difference between the selling price and depreciated value. For instance, if a car is bought for Rs 10 lakh and sold for Rs 15 lakh with a depreciated value of Rs 12 lakh, GST will be charged on the Rs 3 lakh margin.

Who is most affected by this GST hike?
Dealers and platforms selling used cars are most impacted, as the higher tax reduces margins. Some businesses may absorb the cost, while others might pass it on to buyers.

IMPACT OF THE GST HIKE
For buyers: If you’re buying from an individual, prices remain unaffected. Purchases from dealers may cost more.

For sellers: Individuals selling directly face no impact.

For dealers: The hike increases costs, with startups and dealers in the used car market feeling the pinch.

The GST rate hike on used cars aims to streamline tax slabs but brings mixed implications. While it may raise costs for businesses and buyers using platforms, it could reduce second-hand EV costs in some cases, providing a potential upside for green mobility enthusiasts

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