News > GST hike sparks concerns in India’s pre-owned car market
GST hike sparks concerns in India’s pre-owned car market

WION News | 24/12/2024 03:22 PM | Click to read full article
India’s latest tax hikes have sparked widespread discussions among businesses and consumers. The country’s $32 billion used car market is bracing for a shift. The GST council approved an increase in the GST rate on used cars, including electric vehicles, to 18%. The council also increased the GST rate on caramel popcorn to 18%. This decision impacts popcorn sold in cinemas, where caramel popcorn constitutes around 10% of popcorn sales.