Car Price Discount: Today, everyone dreams of having their car. In such a situation, if you are dreaming of buying a car, then this news can be very special for you. If you are going to buy a dream car, then wait a few days. The central government is going to give a great gift to the buyers. Let us tell you that if the GST rates are reduced from 28 percent to 18 percent, then buying a car will become very easy. According to experts, if the government does not reduce the GST on vehicles, then the common people will get its direct benefit. This will not only reduce the prices of cars but will also increase the demand for vehicles.
Read Here: Buy Hero HF Deluxe with 55km mileage for Rs 24,000
How cheap will the car be
Let us tell you that if the government reduces the GST on small cars from 28 percent to 18 percent, then there will be a huge drop in prices. At present, a 1 percent cess is levied on small cars along with 28 percent GST, which makes the total tax 29 percent. For example, if the price of a car is Rs 5 lakh, then after applying 29% GST on it, it becomes Rs 6 lakh 45 thousand. If GST is 18%, then this car can cost Rs 5 lakh 90 thousand. There will be a direct saving of Rs 55 thousand in your pocket. According to this, the more expensive the car, the more will be the savings.
Know when it will be implemented
According to media reports, this proposal can be implemented soon by the government. PM Modi himself has announced relief in GST on Diwali. The auto sector is already in a bad state. In such a situation, companies will get a huge benefit by reducing the tax. Customers will also benefit from this.
Read Here: Govt Jobs 2025: Top 5 Recruitments You Can’t Miss – Defence, Banking & More
Who will benefit the most
After this decision of the government, those who are going to buy a car for the first time or have not been able to buy a new car due to it being out of their budget will benefit the most. EMI will also be less due to a reduction in tax. This will make buying a car even easier. According to experts, this can lead to strong growth in the auto market, and the sales record can also be broken in this festival season.