India in massive reduction of taxes on small cars in line with PM Modi reforms, sending shares higher

India in massive reduction of taxes on small cars in line with PM Modi reforms, sending shares higher

Cars with higher engine capacity that currently attract 28 per cent  GST and an additional levy of up to 22 per cent – resulting in total taxes of about 50 per cent – may come under a new special rate of 40 per cent, the source said.

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