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SIAM which stands for Society of Indian Automobile Manufacturers is a significant Industry body for automobiles and engine manufacturers in the country.
The Indian Sugar and Bio-energy Manufacturers Association (ISMA) on Wednesday urged the Centre to undertake comprehensive GST rationalisation and provide targeted policy support across the biofuel and clean mobility ecosystem to reduce emissions, protect farmer livelihoods, cut crude oil imports, and accelerate India’s journey toward net zero. The association has outlined a comprehensive 10-point blueprint […]
The government, in a move aimed at stimulating demand in the automobile sector, has restructured GST rates for vehicles and auto parts. The Compensation Cess has been eliminated, making vehicles cheaper in several categories. Under overhaul, 12 and 18 per cent slabs have been removed, and 5 and 12 per cent slabs remain in place. […]
The indian auto sector is ready for the game-changing policy move. According to reports, the government will rationalise Goods and Services Tax (GST) rates on automobiles. The auto sector will surge from this GST rate reduction; passenger vehicle majors Maruti Suzuki, Mahindra & Mahindra (M&M), Ashok Leyland, and TVS Motor are among the biggest beneficiaries. […]
The amended GST structure may overhaul the categorisation of passenger vehicles and the tax slabs under which they fall, thereby reducing the burden on entry-level cars. The move aims to address distortions that have developed in the auto tax structure over the years. At present, most items are taxed at 28%, but the proposal is […]
Under the Goods and Services Tax (GST) system, renewable energy devices like solar panels, biogas plants, and windmill parts are charged with a 12% tax, the Government of India cited. Minister of State for Finance, Shri Pankaj Chaudhary, specified the same in the Rajya Sabha. In reply to the question from Member of Parliament Shri […]
In the recent Gujarat state budget, an initiative has been announced that will take effect on Friday, following the completion of administrative processes. “Under the new scheme, a person buying an electric vehicle will be required to pay just 1 per cent as vehicle tax. For instance, a vehicle with a base price of ₹12.49 […]
The Central Board of Direct Taxes (CBDT) has issued Notification No. 21/2025 dated March 25, 2025, amending the Income-tax Rules, 1962. The Income-tax (Sixth Amendment) Rules, 2025, introduce modifications impacting transfer pricing, electric vehicles, and assessment years. Latest Update The IT Notification 124/2024 regarding the application for the Safe Harbour option under Section 9(1)(i), Profits […]
The Odisha State GST AAAR has issued a decision regarding the taxation of leasing e-bikes/EVs. It determined that leasing e-bikes without an operator falls under a specific category related to financial services. Consequently, as per the central tax rate notification No 20/2019- CT(R) issued in September 2019, this service is subject to an 18% Goods […]
