GST rate cut likely to revive used car sales

The decision to reduce tax and remove cess on the sale of used vehicles is expected to boost the pre-owned car market, industry executives said. The GST Council on 18 January decided to reduce the goods and services tax (GST) on used cars to 12% and 18% (depending on the size of the vehicle) from the existing 28%, and scrap the cess (varying from 1-15%). The new rates will be applicable from 25 Ja…