GST is applicable at a rate of 28% on personal use vehicles, without differentiation between petrol and diesel cars. Additionally, luxury cars attract a Composition Cess, increasing the effective tax rate. However, vehicles using cleaner technologies or electric vehicles benefit from lower tax rates...
The fitment committee of the Goods and Services Tax (GST) Council, comprising revenue officials from both the Central and state departments, is anticipated to give an explanation regarding the “ground clearance” criteria and how GST will be levied on utility vehicles (UVs). A ground clearance ...
GST on Electric Vehicles: Impacts, Benefits, and Future Prospects GST on flight tickets: How to claim ITC on Fares Latest Circulars & News Rule 96(10) Amendment: Simplified GST Refund for Exporters Hard Locking of Auto-Populated GSTR-3B Values Begins Jan-2025 New GST Amnesty Scheme from Nov...
The GST Cess should be calculated based on the price of the goods. The GST Cess should be levied in addition to the GST taxes, i.e., CGST + SGST/UTGST in case of intrastate supplies and IGST in case of interstate supplies.
GST on Ola Electric Scooty and How to save it October 14, 2024bysuman Electric vehicles (EVs) are becoming popular in India. Because almost every business is trying to reduce their fuel costs and carbon footprint. One of the leading options in this space is the Ola electric scooty. It’...
Furthermore, not having GST Registration can result in: #1.Goods and vehicles may be held in detention. #2.Goods and vehicles may be confiscated. #3.The person or supplier would not be eligible to claim input tax credit. #4.The person or supplier would be unable to transfer the input ...
Spacecraft (including satellites) and suborbital and spacecraft launch vehicles exempted from paying GST No GST applicable for – Parts of goods of heading 8801 Hearing aids is exempted to pay GST No GST payable on sale of Indigenous handmade musical instruments ...
GST Circular 25/2024 dated 11-9-2024: Clarification on availability of input tax credit in respect of demo vehicles. GST Circular 26/2024 dated 11-9-2024: Clarification on place of supply of data hosting services provided by service providers located in India to cloud computing service providers...
We spoke with Anders Grundstrmer, Managing Director, SCVI and Senior Vice President, Scania Group on the company's business and prospects for the future in India. Anders Grundstrmer has been the Managing Director for Scania Commercial Vehicles India and Senior Vice President of the Scania Group ...
XVII86-89Vehicles, aircraft, vessels and associated transport equipment8601-871612%, 18%, 28% XVIII90-92Clocks and watches, musical instruments, Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus,9001-920912%, 18% ...