Topic: How To Invest

Stock Pickers Digest Hotline – Friday, July 7, 2017

Article Excerpt

NISSAN MOTOR CO., $20.23, symbol NSANY on Nasdaq, is Japan’s second-largest automaker, after Toyota. Nissan, along with many other vehicle makers, is dropping the prices of the cars it sells in India. Its prices in that market will fall an average of 3%. The company sells a range of vehicles in India under the Nissan and Datsun brands, ranging from the hatchback Redi Go to the Terrano SUV. India introduced a national goods and services tax (GST) on July 1, 2017. The GST replaces multiple state and central taxes with a single levy. Cars fall in the “luxury bracket” and will attract a 28% flat GST. Over and above that, cars will now attract an extra 1%, 3% or 15% tax, depending on the vehicle’s classification. Regardless, the net result is that under the new GST system, cars are now taxed at a slightly lower overall rate. For example, a mid-sized car was formerly taxed at a rate as high as 48%. The rate will…