Car parts form an essential part of the automotive industry, but they don’t always come cheap. The cost of car parts is often one of the biggest expenses when it comes to owning and operating a vehicle, and the GST (Goods and Services Tax) only adds to the overall cost.
GST is levied on all goods and services in India, including car spare parts. Depending on the type of car part purchased, the rate of GST can vary, ranging from 5% to 28%. Car parts classified as luxury items are taxed at the highest rate, while parts classified as essential items are charged at a lower rate. As a result, the cost of car parts for luxury vehicles is significantly higher than for regular vehicles.
It is important for buyers to be aware of the GST rate applicable to their purchase as this can have a big impact on the total cost. Fortunately, most car part retailers provide information about the applicable rate on their websites, so buyers can easily find out the applicable GST rate before making a purchase.
In addition to the GST rate, buyers should also be aware of the different tax slabs, which can potentially reduce the overall cost of their purchase. By taking advantage of these slabs, buyers can save money on their car repairs and maintenance.
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