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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 Society of Indian Automobile Manufacturers held meetings with three state governments in recent weeks. The state government of Maharashtra, Gujarat and Karnataka assured the SIAM members that they will stick to their earlier commitments.
Automobile industry body Society of Indian Automobile Manufacturers (SIAM) has suggested the government to prefer a standard GST (Goods and Services Tax) rate on small cars.
According to sources, the proposal to reduce the goods and services tax (GST) rate on electric vehicle (EV) batteries has been rejected by the GST Council’s fitment committee. The Electric Vehicle industry had requested a reduction from 18% to 5% for GST on batteries, but the committee has recommended maintaining the current rate. Members of […]
The fitment committee of the Goods and Services Tax (GST) Council, comprising revenue officials from both the Central and state departments, is anticipated to give an explanation regarding the “ground clearance” criteria and how GST will be levied on utility vehicles (UVs). A ground clearance of over 170 millimetres is one of the three key […]
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 […]
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 […]
The auto industry leaders have again requested the government to reduce the GST liabilities for the industry because of the reduction in sales due to the outbreak of coronavirus. The requests were made during a video conference on Thursday with Union Minister for Heavy Industries and Public Enterprises Prakash Javadekar in which the steps to […]
Kerala Finance Minister disfavour the idea of dwindling GST rate on automobiles as a measure to lift the economic health of Nation, instead, he is making recommendations for fiscal expansion. According to Kerala FM Thomas Issac, GST rate cut on automobiles will not be profitable and it will only lead to revenue loss for the […]
