GST at 9: Making India’s auto tax framework fit for the next gear - The Times of India

Multiple indirect taxes have given way to a simpler structure, with 5% GST on electric vehicles, 18% as the standard rate for most vehicles. (AI image) By Parul Nagpal, Tax Partner, EY India India’s automobile industry is entering an exciting phase of growth. Today, India is the world’s third-largest automobile market, contributing nearly 7% to GDP and almost half of the country’s manufacturing GD…