GST rate cut: Your passenger vehicles got cheaper by 2-9%, says report. Check what changes, and where do EVs stand?
The latest change in GST interest has provided relief in India's car sector, making passenger cars cheap more than 2-9 percent. According to the Kotak Institutional Equity report, the reduction in tax rates is expected to promote demand in cars, SUVs and two-wheelers, while reducing the pressure on manufacturers. Price cuts are likely to encourage buyers, especially in medium and entrance level segments, which often face-wide consumers. This step can help revive car sales after the recession caused by high costs. However, electric vehicles (ev) remain unaffected, as they already enjoy low GST prices than traditional vehicles. The report states that when the cuts benefit the combustion engine (ICE), it can also transfer consumer interests to fuel -based alternatives in the short term. Overall, change is estimated to encourage the industry, improve emotions and support the economic economic activity associated with the car market.
The Key points
- GST cut passenger car prices by 2-9%.
- Cars, SUVs and two-wheelers are directly served with a lack of tax.
- The report states that better strength will promote the buyer's spirit.
- Middle size and entry level models are expected to see a strong demand.
- Manufacturers receive relief from high cost pressure.
- EVS remains unaffected by already low GST rates.
- Consumer preference changes to traditional fuel cars are possible.
- Revival for the car sector is expected after a recently recession.
- Deficiency can stimulate both urban and rural vehicles.
- Industry experts see a positive impact on general economic development.
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