Small cars may get cheaper by 8% if GST reduced from current rate: HSBC Report

Car prices in India, especially for small cars, could drop by up to 8% if the government reduces the GST rate from 28% to 18%, according to an HSBC report. Currently, passenger vehicles face a GST of 28% plus an additional cess, bringing the effective rate to 29–50% depending on size.

from Auto-Industry-Economic Times https://ift.tt/AnzwyOH