Old Cars In NCR

A registered person will have to pay GST on sale of old and used vehicle only if the seller has earned a margin, which is the selling price is higher than the depreciation adjusted cost price of the vehicle, sources said. The GST Council in its meeting last week decided to prescribe a single rate of 18 per cent on sale of all old and used vehicles including EVs, earlier leviable at different rates. If an individual sells old and used car to another individual, GST would not be applicable. Sources said where the registered person has claimed depreciation under Section 32 of the Income Tax Act 1961, GST is payable only on the value representing the margin of the supplier, that is the difference between consideration received for the supply of such goods and the depreciated value of such goods on the date of supply. "Where such margin is negative, no GST is payable," a source said. For example, if a registered person is selling an old and used vehicle to any person at Rs 10 lakh, whe

In line with the High Court's directions, Delhi govt is formalising a policy to fine Rs 5,000 for two-wheelers and Rs 10,000 for four-wheelers to release impounded overage vehicles

Starting from April next year, vehicle owners will have to shell out Rs 5,000 for renewal of registration of the cars older than 15 years, which is eight times more than what they currently pay. The road transport and highways ministry has issued a notification for the renewal of the certificate of registration of old vehicles and this new rule is part of the government's overall plan to roll out the National Automobile Scrappage Policy. According to the notification, renewal of certificate of fitness for a bus or truck older than 15 years will cost nearly eight times higher charges than owners of the commercial vehicles currently pay. While charges of registration renewal of a 15-year-old car would be Rs 5,000 compared to the current fee of Rs 600, the charges of registration renewal of old bikes would be Rs 1,000 compared to the current fee of Rs 300. Similarly, a fitness renewal certificate for a 15 year-plus bus or truck would cost Rs 12,500 from the current fee of Rs 1,500; wh

OEMs, dealers to aid the collection of old vehicles, recyclable spares through the take-back scheme, or by setting up scrapping centres or through tie-ups with such facilities

A committee of secretaries (CoS) recommended to the ministry redesigning of the scheme

Uttar Pradesh Pollution Control Board has also issued strict instructions to a dozen departments to reduce pollution