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India Proposes Cuts in GST for Small Cars and Insurance Premiums
2025-08-18 /
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Author：小编
The Indian government is contemplating a reduction in the Goods and Services Tax (GST) on small cars, slashing it from the current 28% to 18%. Additionally, there are plans to potentially lower the GST on health and life insurance premiums. These measures are anticipated to be unveiled during the festive occasion of Diwali. This strategic move aims to breathe new life into the sluggish small car market, serving as positive news for automakers like Maruti Suzuki. On the other hand, vehicles with larger displacements may soon face a newly introduced special tax rate of 40%, though the detailed plan for this is still in the works.
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