GST Council may increase tax on old and used vehicles, including EVs, to 18%

In a move that could impact the resale market for old and used Electric vehicles, the GST Council’s Fitment Committee has recommended increasing the Goods and Services Tax (GST) rate on such vehicles from 12% to 18%.  This proposed hike would also apply to old and used electric vehicles (EVs), which are currently taxed at the lower 12% rate under notification No. 08/2018-Central Tax (Rate), d…