{"id":1299063,"date":"2025-08-20T06:54:12","date_gmt":"2025-08-20T01:24:12","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1299063"},"modified":"2025-08-20T06:54:47","modified_gmt":"2025-08-20T01:24:47","slug":"small-cars-under-rs-10-lakh-2-wheelers-can-get-gst-respite-soon","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/small-cars-under-rs-10-lakh-2-wheelers-can-get-gst-respite-soon\/","title":{"rendered":"Small Cars Under Rs 10 Lakh, 2-Wheelers Can Get GST Respite Soon"},"content":{"rendered":"\n

With the introduction of a new GST regime with differentiated tax rates, the Indian government plans to provide significant relief for future buyers of cars and two-wheelers.<\/p>\n\n\n\n

\"Small<\/figure>\n\n\n\n

Read on to find out all the details!<\/p>\n\n\n\n

Government Plans New GST Regime to Ease Costs for Car and Two-Wheeler Buyers<\/strong>
<\/p>\n\n\n\n

Currently, small cars are subject to 28% GST plus a 1-3 percent small cess.<\/p>\n\n\n\n

Currently, SUVs are subject to a 50% tax, which includes GST and cess.<\/p>\n\n\n\n

In India, the government intends to lower the GST rates on automobiles and motorcycles.<\/p>\n\n\n\n

The new GST plan was alluded to by Prime Minister Narendra Modi in his Independence Day speech.<\/p>\n\n\n\n

The government plans to reduce the tax rates on air conditioners and building supplies in addition to automobiles, SUVs, and two-wheelers.<\/p>\n\n\n\n

According to sources, in order to prevent confusion, the current GST definition of SUVs may be eliminated.<\/p>\n\n\n\n

New GST Regime May Introduce Two-Tier Tax Slabs: Merit and Standard<\/strong><\/p>\n\n\n\n

Merit and Standard tax slabs will be introduced under the new GST regime, according to reports.<\/p>\n\n\n\n

The Standard category will have an 18% GST rate, while the Merit category will include goods and products subject to a 5% tax.<\/p>\n\n\n\n

The government hopes to implement the new regime by Diwali this year, though specifics have not yet been made public.<\/p>\n\n\n\n

The entire Indian automobile industry is anticipated to gain from the action.<\/p>\n\n\n\n

Lower manufacturing and component costs could result from lower GST rates, which could increase output.<\/p>\n\n\n\n

Small cars under \u20b910 lakh and entry-level motorcycles are probably the immediate beneficiaries.<\/p>\n\n\n\n

The current 5% GST rate is likely to be maintained for electric vehicles.<\/p>\n\n\n\n

However, the GST rates for luxury cars might not change.<\/p>\n\n\n\n

In September 2024, the Union Government launched the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme to incentivize the purchase of electric vehicles (EVs) in India. Under this scheme, a subsidy of \u20b910,000 is provided for each electric two-wheeler and \u20b950,000 for electric three-wheelers until March 2025. The scheme aims to encourage EV adoption and expand market share for electric two- and three-wheelers.<\/p>\n","protected":false},"excerpt":{"rendered":"

With the introduction of a new GST regime with differentiated tax rates, the Indian government plans to provide significant relief for future buyers of cars and two-wheelers. Read on to find out all the details! Government Plans New GST Regime to Ease Costs for Car and Two-Wheeler Buyers Currently, small cars are subject to 28% […]<\/p>\n","protected":false},"author":25,"featured_media":1299072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[272,8492],"class_list":["post-1299063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-gst","tag-small-cars"],"acf":[],"yoast_head":"\nSmall Cars Under Rs 10 Lakh, 2-Wheelers Can Get GST Respite Soon - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/small-cars-under-rs-10-lakh-2-wheelers-can-get-gst-respite-soon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Small Cars Under Rs 10 Lakh, 2-Wheelers Can Get GST Respite Soon - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"With the introduction of a new GST regime with differentiated tax rates, the Indian government plans to provide significant relief for future buyers of cars and two-wheelers. 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