GST will come into execution from July 1, 2017. But most of worried about their future plans to own their dream bikes.
What would be the effect of GST on two wheelers?
Here is your answer:
Bikes and mopeds will have a 28 per cent tax applied to them. There is a cess of 3 per cent for motorcycle with motor limit over 350cc, which takes them to an aggregate of 31 per cent.
What GST does is make business simpler, not make things less expensive – the eleventy million taxes that a specialist or association needs to pay to keep himself/itself going have been diminished to only a couple.
What it accomplishes for you and me as buyers may be very little, really. Our bicycles will cost the same amount of. The 3 for per cent cess on motorcycle over 350cc will influence producers like KTM, with its 373cc motor, Royal Enfield, with its motors that dislodge more than 350cc.
The ownership experience may get somewhat more costly, in light of the fact that there is a proposed 28 for per cent GST on extras, and an expansion in tax for administrations by another 3 for per cent, which means work energizes will go marginally if this comes into drive.
The one major special case is cross breed and electric vehicles: the tax section for them will be 12 for per cent. This will really make them more costly in a few regions where the government is as of now deferring tax or offering a discount for those buying electric vehicles.
During a time where electric vehicles still aren’t exactly in the same class as their petroleum controlled partners, it won’t help shoppers select them notwithstanding their green accreditations.
Generally, in any case, things won’t change much for the bike business or the shopper in light of the fact that the expense rates are very like what exists.