Implementation of GST has brought a considerable change in on-road pricing of various vehicles. The huge drop was limited to certain states only as cars in Delhi saw a little change (except for SUVs, luxury cars) in their ex-showroom price.
The change in price of the same car in Mumbai was worth consideration as Octroi was removed from the complete process. GST is now applicable on everything, including the calculation of on-road price of a vehicle. Here are the applicable changes on you new price quote.
Tax on insurance will go up by 3 percent, keeping the services same as before but charging 18 percent GST instead of the old 15 percent of service tax. That simply means that an insurance scheme that costs INR 100 will now cost INR 118 but could have been bought for INR 115 before July 1, 2017. This would mean an addition of INR 300 while you buy an insurance for your car worth INR 10,000.
The change in insurance cost for everyday commuter bikes will not be as loud as the drop in price of the same bike. RTO charges or registration cost will definitely drop as the price of vehicle while registration saw a fall through GST. No increase in charge was witnessed in Delhi while automobile fans from Mumbai will face the heat with 2 percent increase in RTO charges.
A petrol car in Mumbai needs to pay 11-13 percent of tax while diesel need 13-15 percent of payment as registration cost. Motorcycles will even pay more as they are now taxed between 10-12 percent. The amount of RTO tax depends upon engine size.
GST Effect: RTO Charges | Car & Bike Insurance
Published: Thursday, 06 July 2017 0:00 AM | By Maxabout News | 1334 Views
Related Posts
Most Popular Related Posts for
Discover the New Mahindra XUV 3XO: Luxury Meets Technology
Tuesday, 23 April 2024 19:30 PM | 1 views
Mahindra Thar 5-Door Lower Variant Spotted During Testing
Tuesday, 23 April 2024 19:14 PM | 2 views
Kia Carens Achieves 3-Star Global NCAP Rating in Recent Tests
Tuesday, 23 April 2024 17:18 PM | 2 views
Triumph 400 Range Price Update: First Hike in Costs Explained
Tuesday, 23 April 2024 16:55 PM | 2 views
VW Taigun GT Line and GT Plus Sport Debut at Rs 14.08 Lakh
Tuesday, 23 April 2024 16:09 PM | 3 views
Bajaj Chetak’s More Affordable Model Arriving in May 2024
Tuesday, 23 April 2024 14:14 PM | 2 views
Honda Activa Electric Set for Early 2025 Launch
Tuesday, 23 April 2024 13:38 PM | 2 views
Force Gurkha 5-door Set for Imminent Launch
Tuesday, 23 April 2024 13:20 PM | 2 views
Toyota Launches Fortuner Leader Edition: Bookings Now Open
Tuesday, 23 April 2024 13:04 PM | 2 views
Global Launch: Jeep Commander Blackhawk Edition Makes Its Debut
Tuesday, 23 April 2024 12:50 PM | 2 views
-