Top News

Luxury Car Number: Cars in India have now become not just a means of travel but a strong symbol of identity, pride and lifestyle. With the launch of new models, people’s passion for fancy number plates is increasing rapidly. This craze recently created history in Haryana’s online auction, where HR88B8888 The bidding for the number directly reached Rs 1.17 crore. This has become the most expensive number plate in the country so far. But the big question is that how much tax will the buyer have to pay on buying such an expensive fancy number plate?

Will fancy number plates be declared a luxury item?

Currently, different taxes are imposed on fancy numbers in different states of the country. Somewhere only registration fee is charged, whereas in many states 18% GST is already applicable. Now the government is going to make changes in this system. According to the proposal, there is a plan to put fancy number plates directly in the luxury item category. Under this, 28% GST can be imposed on fancy number plates. This means that the tax on number plates sold worth crores will be equally heavy.

How much GST will have to be paid on a number plate worth Rs 1.17 crore?

If 28% GST is implemented, the buyer will have to pay:

• 1.17 crore × 28% = approximately Rs 32.76 lakh GST

This means that you will have to shell out more than Rs 30 lakh just in the name of tax. The government is considering this auction as a luxury payment and imposing full GST on it.

What is the tax situation now?

Currently, 18% GST is applicable on fancy numbers in many states, but the tax structure varies from state to state. To remove this disparity, a demand has been made to the Finance Ministry to set uniform rules, so that it can be officially included in the 28% slab.

There will be a huge fine for using fancy numbers without permission

The government has issued a strict warning that installing fancy number plates without auction or official permission is completely against the law. If caught doing this, you may have to pay a heavy fine under the Motor Vehicle Act. That is, entering a wrong number in order to show off will be considered a direct violation of the law.

What will happen if 28% GST is implemented?

If this rule is implemented, fancy number plates will become even more out of the reach of common people.

• bid worth crores
• tax of lakhs

This combination will remain a luxury only for the rich class. Experts believe that this step can be a big decision towards the luxury item control policy of the government.
In the coming days, fancy numbers will become even more exclusive.

How is bidding for VIP numbers done?

VIP number plate auction in Haryana is conducted completely online.

• Application every Friday from 5 pm to Monday 9 pm
• Online bidding till 5 pm on Wednesday
• Results released on the same day