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A senior officer from Ashok Leyland recently said that Reduction in rate of GST and introducing of scrappage policy can revive the commercial vehicle sector which has been going through a tough time for quite some time now. The Hinduja Group flagship company also expects something similar, amid the current slowdown in the industry which […]
Here comes another addition to the Budget 2020 wishlist which seeks GST rate cut on BS-VI vehicles to 18% and behests for the announcement of an incentive-based scrappage policy, by the Society of Indian Automobile Manufacturers (SIAM), an industry body for automobiles. Further, pleas have been made by the industry body from the Finance Minister […]
The changes in the proposed scrappage policy will impact the number of commercial vehicles under the policy and further control new CV demand as well, as per ICRA.
An employer usually refers to your initial base salary when discussing your pay. To form your complete ‘salary package,’ they incorporate different elements on top of this figure. These additions consist of extra perks or incentives such as housing allowances, phone reimbursements, car allowances, and bonuses. Taking a closer look at these perks reveals that […]
Finance Minister Nirmala Sitharaman made the announcement when introducing the Union Budget 2023, making electric vehicles (EVs) more affordable in India by extending the subsidies on their batteries for another year. Finance Minister Nirmala Sitharaman said that “I propose to continue the concessional duty on lithium-ion cells for batteries for another year”, The government introduced […]
The government is thinking about the proposal on the concession of tax on the vehicles that are bought after scrapping old vehicles beneath the launched national automobile Scrappage Policy, Union Minister Nitin Gadkari. Final Call by FinMin, GST Council Beneath the national automobile scrappage policy, the union government mentioned that the states and the Union […]
Covid-19 Pandemic, lockdowns, and implementation of the BS-VI norms in the country are making the way tougher for India’s Automobile industry. And with the same belief, they have appealed to the Government of India to reduce taxes to mitigate the price increase on Bharat Stage-VI vehicles. It will help to and increase the demand before […]
On Tuesday, 3rd March 2020, a parliamentary panel proposed a reduction in GST rates for the Automobile Sector of the country. It recommended that the GST rates imposed should be reduced at least until the Automobile Sector revives in full. It also said that uniform road taxes What is One Nation One Road Tax? One […]
There may be good times awaiting for the Indian commercial vehicle industry as the centre is pitching for a zero tax rate on the sale of second hand or the old commercial vehicles under the goods and services tax.
