GST Reforms Drive Big Gains for Small Cars, Leave Luxury Segment in the Slow Lane
India’s automobile sector is gearing up for a major tax overhaul as the GST Council prepares to implement a simplified two-slab structure for vehicles. The proposed reform, expected to roll out by Diwali 2025, will reduce the Goods and Services Tax (GST) on small internal combustion engine (ICE) cars from 28% to 18%, with minimal…