The 55th Goods & Services Tax (GST) council meeting has decided to increase the GST rate on the sale of pre-owned vehicles to 18 percent from the current 12 percent.

The hike will now also be applicable to electric vehicles margin value, when the transaction happens by registered businesses dealing with used vehicles. But in case an EV is sold by the vehicle owner to another individual there will be no GST applicable.

The hike the government believes will bring parity between used old small cars, EVs with old larger vehicles.

The GST council clarified that the tax will be applicable only on the margin of the seller, and not on the entire value of the car. For instance, if a vehicle is bought for INR 1 million and sold at INR 600,000, the tax will be on the margin value of INR 400,000.

Representational image courtesy: Tom Fisk/Pexels

Tier 1 supplier Schaeffler India has appointed Sharad Bhatia as the new Head of Vehicle Lifetime Solutions (VLS), effective 2 December 2024.

In his new role, he is tasked to lead Schaeffler India’s efforts to strengthen presence in the mobility ecosystem.

Bhatia comes with over 24 years of experience in the automotive parts industry and will be instrumental in expanding Schaeffler India’s VLS business on the back of his deep expertise in aftermarket service parts sector.

Harsha Kadam, MD & CEO, Schaeffler India, said, “We are delighted to welcome Sharad Bhatia to Schaeffler India as Head of Vehicle Lifetime Solutions. The Vehicle Lifetime Solutions business is an important business division for the strategic growth of Schaeffler in India. His extensive background in the aftermarket business, combined with his experience in multinational markets, aligns well with our strategic goals. Sharad’s leadership will be pivotal in strengthening and enhancing the agility of our VLS business, further reinforcing our commitment to sustainable motion technology solutions in India.”

Sharad Bhatia, added, “I am excited to join Schaeffler India at a time when the automotive industry is rapidly transforming. My focus will be on expanding our aftermarket solutions portfolio by leveraging advanced motion technology to deliver value and innovation. I look forward to working closely with the talented team at Schaeffler India to strengthen our Vehicle Lifetime Solutions division and provide our customers with sustainable, reliable, and forward-looking solutions.”

Tier 1 automotive supplier Uno Minda has launched what it claims is India’s first GPT-enabled Android music system - Wtunes-464DN-GPT - in the aftermarket for INR 49,999.

The GPT-enabled infotainment unit has a built-in voice command feature. It also has an inbuilt 360deg camera controller for improved safety, high-definition audio with 208W output, and advanced digital signal processing (DSP). It has a dynamic equalizer that allows personalised audio settings and split-screen functionality for multitasking. The music unit also comes with a microphone, screws, a 4G antenna, and wiring with a SIM card slot.

Rakesh Kher, CEO, Uno Minda Aftermarket Division, said, “Featuring an integrated AI assistant, the Wtunes-464DN-GPT introduces a new level of control and immersion. Unlike traditional desktop setups that rely on typing, this cutting-edge product from Uno Minda incorporates GPT with intelligent voice commands, providing real-time assistance for professionals who require immediate information. This makes it especially beneficial for busy individuals on the go, perfectly exemplifying the concept of infotainment—delivering both information and entertainment effortlessly while traveling. The advanced QLED resolution (2000 x 1200p) provides a sharper, more vivid display, while Digital Signal Processing (DSP) enhances sound quality for clear audio. The capacitive touch panel offers intuitive control, and with a powerful output of 208W (4x52W), you'll feel every beat.”

The infotainment unit offers wireless and wired connections supporting both Android Auto and Apple CarPlay. It also provides support for variety of apps for navigation including Google Maps.

Tata International, one of the global trading and distribution arm of the Tata Group and Tata Motors, one of India's largest commercial vehicle manufacturers, have inaugurated a new Registered Vehicle Scrapping Facility (RVSF) in Pune called 'Re.Wi.Re – Recycle with Respect’.

The new facility operated by Tata International Vehicle Application (TIVA), a subsidiary of Tata International, can process 21,000 passenger and commercial vehicles per annum.

Rajeev Singhal, MD, Tata International, said, "The commencement of operations at our RVSF plant marks a pivotal milestone in Tata International's journey towards circularity. This state-of-the-art facility exemplifies our dedication to fostering sustainable growth through responsible and environmentally conscious solutions. At Tata International, we are steadfast in our efforts to embed sustainability across all facets of our operations, ensuring a meaningful and lasting contribution to the environment and the communities we serve."

Vivek Bhimanwar, IAS, Transport Commissioner of Maharashtra, said, “The launch of the TIVA RVSF in Pune is another milestone in our journey toward sustainable vehicle scrapping in Maharashtra. The infrastructure that TIVA has built is of high standards and entails the surety of making the scrapping process of vehicles environment-friendly and as per government norms. I congratulate the team and extend my support to the RE.WI.RE initiative”.

Rajeev Batra, CEO, Tata International Vehicle Applications, said, "TIVA and Tata Motors have taken a pivotal step in transforming the approach to the lifecycle of vehicles in India. With the capacity to dismantle 21,000 vehicles annually, this facility has been designed to address the growing need for efficient and safe vehicle recycling. This initiative supports India’s transition toward a cleaner and more regulated vehicle-recycling framework. At TIVA, we constantly push ourselves to reach new heights and remain committed to delivering our best to the communities we serve.”

The scrapping centre is equipped with cell-type and line-type dismantling has dedicated stations for the safe dismantling of various components, including tyres, batteries, fuel, oils, liquids and gases.

Bengaluru-based Ohm Mobility has rebranded itself as Ohm Daily in an effort to make it big and address the market needs more accurately as an EV financing technology platform. 
Having enabled thousands of EV users to efficiently access institutional capital from financial institutions like IDFC, EvFin, Bike Bazaar, Ohm Daily as a brand of Ecofy was founded by Oxford alumni and Skoll scholars Nikhil Nair and Nikhil Saigal with an aim to address a critical cash-flow challenge faced by gig workers and mobility professionals. 
It did so by aligning their irregular, daily income with monthly financial obligations. The change of name marks an evolution in the company’s focus—from financing electric vehicles to becoming a platform offering sachet products and financial services for daily earners, particularly auto drivers and mobility workers.
Its innovative sachet-style financial products and services are expected to enable customers to make small, daily payments towards the repayment of their loans in a way that they match their income streams. 
“Why should a driver struggle to pay INR 9,000 at the end of the month when they can break it down into manageable daily payments? Our proposition is simple: we transform all your financial obligations into manageable, daily sachet payments and we simplify financial access for the informal workforce, giving them tools that align with their cash flows,” said Nikhil Nair, Co-founder and CEO of Ohm Daily. 
“Now is the right time for solutions of this nature, thanks to the rise of UPI and the rapid formalisation of incomes for daily earners. Our product aims to drive meaningful change for a historically underserved segment. Financial inclusion isn’t just about having a bank account—it’s about ensuring that all products and services are accessible to everyone in ways that truly work for them”, he added. 
From processing over 120,000 micro payments during its validation phase, Ohm Daily is now gearing up to scale its operations, leveraging digital payment adoption and increasing financial formalisation among daily earners. The company is focusing on creating a robust financial ecosystem for the 25 million mobility workers and eventually expanding its services to 140 million informal workers living on daily-income.