Small cars, bikes up to 350 cc to get cheaper as GST reforms kick in

Small cars, bikes up to 350 cc to get cheaper as GST reforms kick in https://www.taxtmi.com/news?id=54529 GST is restructured into a two-rate framework with a lower consumption rate and a standard rate, plus a special high slab for select luxury and racing vehicles. Passenger vehicles and motorcycles meeting specified engine and length criteria are reclassified to the standard rate, electric vehicles remain at the lower rate, and small hybrids also benefit. Automotive components are moved to the standard rate while the compensation cess continues to affect overall tax incidence. en-us Thu, 04 Sep 2025 00:16:03 +0530 Thu, 04 Sep 2025 00:16:03 +0530 TaxTMI RSS Generator Small cars, bikes up to 350 cc to get cheaper as GST reforms kick in https://www.taxtmi.com/news?id=54529 GST is restructured into a two-rate framework with a lower consumption rate and a standard rate, plus a special high slab for select luxury and racing vehicles. Passenger vehicles and motorcycles meeting specified engine and length criteria are reclassified to the standard rate, electric vehicles remain at the lower rate, and small hybrids also benefit. Automotive components are moved to the standard rate while the compensation cess continues to affect overall tax incidence. News - Thu, 04 Sep 2025 00:16:03 +0530 https://www.taxtmi.com/news?id=54529