GST 2.0’s bumpy ride: Stuck with old stock, car dealers face Rs 2,500 crore loss in cess

While the GST overhaul has reduced the rates on several cars and also done away with the compensation cess, which is expected to make cars cheaper, dealers who have requisitioned the cars from manufacturers at the older rates have paid GST and cess on it. Those cars now – which dealers had stocked up due to the incoming festive season – are proving difficult to sell, as customers are unwilling to…