Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Council meet: Rates, clarifications
The New Indian Express Mysuru
|December 22, 2024
EVEN though the GST Council in its 55th meeting in Jaisalmer avoided "thorny" issues such as lowering GST rates on insurance premium and a discussion on rate rationalisation, it did make several changes in the rates of goods and services.
Among the major changes announced, the Council decided to increase the GST rate from 12% to 18% on sale of all old and used vehicles, including EVs.
Currently, 18% GST is levied on sale of old and used petrol vehicles of engine capacity of 1200 cc or more & of length of 4000 mm or more; diesel vehicles of engine capacity of 1500 cc or more & of length of 4000 mm and SUVs.
However, finance minister Nirmala Sitharaman clarified the 18% GST would only be levied only on the margin - difference between the purchase price and selling price (depreciated value if depreciation is claimed) and not on the value of the vehicle. The FM also clarified that the GST is not applicable in case of unregistered persons.
The tax rate on caramelised popcorn - that took the social media by a storm on Saturday - has been increased from 5% to 18%.
This story is from the December 22, 2024 edition of The New Indian Express Mysuru.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The New Indian Express Mysuru
The New Indian Express Mysuru
Rahul says Indo-US deal a 'death warrant' for farmers
LoP says agreement will open doors for American agricultural goods
2 mins
March 01, 2026
The New Indian Express Mysuru
PM holds Cong responsible for 'tarnishing' India image
Says ‘shirtless protest’ at Al meet shows frustration over poll defeats e LoP says agreement will open doors for American agricultural goods
1 mins
March 01, 2026
The New Indian Express Mysuru
Sibling Revelry and the Politics of Confrontation and Composure
When Priyanka Gandhi Vadra opened the Congress campaign in Assam, the political temperature was already high.
3 mins
March 01, 2026
The New Indian Express Mysuru
Indian carriers suspend flight ops, AI aircraft recalled en route to Tel Aviv
AIRLINES from India operating to the West Asia announced cancellation of their flights on Saturday.
1 min
March 01, 2026
The New Indian Express Mysuru
GOR: IMPOSING UNDIPLOMATIC DOMINANCE
RECENTLY, Commerce Minister Piyush Goyal posted a telling picture on his X handle.
4 mins
March 01, 2026
The New Indian Express Mysuru
OPEC+ to meet today to discuss output hike: Report
OPEC+ will weigh a larger than planned output increase at a meeting on Sunday, Reuters reported.
1 min
March 01, 2026
The New Indian Express Mysuru
Govt: Accept standard disability cert of job aspirants to reduce hardship
IN a move aimed at easing the burden on aspirants with disabilities, the Centre has asked all service examination authorities under the Central and state governments to accept standardised disability certificate to write competitive tests instead of insisting on exam-specific formats.
1 mins
March 01, 2026
The New Indian Express Mysuru
BJP consolidates and Oppn negotiates
Cong brainstorms potential candidates
1 mins
March 01, 2026
The New Indian Express Mysuru
Dhami says Devbhoomi will not allow 'heinous, extremist thinking' at any cost
UTTARAKHAND CM Pushkar Singh Dhami has asserted that “hateful and radical mindsets” will not be allowed to take root in the state.
1 mins
March 01, 2026
The New Indian Express Mysuru
Severe heatwave conditions in summer likely
AFTER a dry and warmer winter, severe heatwave conditions are expected across most parts of the country, with the exception of Central India.
1 mins
March 01, 2026
Listen
Translate
Change font size