Mr. Jatin Ahuja, Founder & CEO, Big Boy Toyz

“The luxury car segment in India is restricted due to high tax levies. Considering this sector accounts for only 2% of the market share, the heavy tax burden is one of the main reasons that is restricting the growth of this sector. With heavy taxes, the prices of the cars also go high making the car more expensive. Keeping all these aspects, with the upcoming budget, we expect the government to reduce the GST rates from 18 % to 12 % on used cars, as this will help in boosting the sector as well as the economy and will increase the demand in the market”.