CosmicTaco

GST Council Hikes Tax on Used EVs, Defers Key Decisions

CosmicTaco · 2024-12-22T11:58:35.597397+05:30

- The GST Council decided to levy an 18% tax on the margin value of used electric vehicles sold by businesses, up from 12%. - Key decisions on reducing tax rates on insurance products and food delivery platforms were deferred, pending further review. - Clarifications were made on the taxability of popcorn, with different rates for caramelised, pre-packed, and unpacked varieties. Source: [Ndtv](https://www.ndtv.com/business-news/gst-council-increases-tax-on-used-ev-car-sale-by-business-7305123), [Hindustan Times](https://www.hindustantimes.com/india-news/gst-council-hikes-tax-on-used-old-cars-by-businesses-opposition-reacts-101734826156731.html)

The GST Council decided to levy an 18% tax on the margin value of used electric vehicles sold by businesses, up from 12%.
Key decisions on reducing tax rates on insurance products and food delivery platforms were deferred, pending further review.
Clarifications were made on the taxability of popcorn, with different rates for caramelised, pre-packed, and unpacked varieties.

Source: Ndtv, Hindustan Times