Relief for used car players as GST rate slashed for second-hand vehicles

The abolition of the cess on ambulances was positive for Force Motors, the largest player in that segment, India Infoline added

Organised dealers, which received a breather from the GST Council that lowered the goods and services tax rate on used cars, said margins would now improve and the market would see more discounts. 

In its 25th meeting on January 18, the GST Council lowered tax rates on 29 products and 54 services. Among these, the GST rate on used medium and large cars and SUVs was cut from 28 per cent to 18 per cent, and the rate on small cars and motor vehicles was reduced from 28 per cent to 12 per cent. The cess on both these categories