If you are thinking of buying a car in the festive season then there is good news. The central government is considering a 10 percent reduction in the GST rate on all types of vehicles. If this happens, the price of the new car will be reduced in the coming days. Through this, demand can be increased.
Prakash Javadekar indicated
Modi government minister Prakash Javadekar has indicated this while addressing a meeting of Siam, an organization of the auto industry. He told that the government is serious about the long-standing demand of the automobile industry and a decision will be taken in a few days.
What did Javadekar say
Prakash Javadekar said, 'Finance Ministry is preparing a detailed outline of this proposal. Two-wheeler, three-wheeler, public transport, and four-wheelers should be relieved in a phased manner. Hope you get the good news soon.
GST is 28 percent
With this, Prakash Javadekar assured that he will talk to the Prime Minister and Finance Minister about the demand for temporary cuts in GST. Let us tell you that 28 percent of GST is levied on trains. The auto industry has long been demanding to reduce it to 18 percent.
Nirmala Sitharaman gave hints
Before the recent GST Council meeting, Finance Minister Nirmala Sitharaman had also indicated the GST cut on two-wheelers but no decision was taken in this time meeting. In such a situation, it is now expected that in the next council meeting, there will be a discussion of GST reduction on other vehicles in the industry including two-wheelers.
Maruti Suzuki also demanded
At the same time, Kenichi Ayukawa, managing director and CEO of Maruti Suzuki, has sought help from the government. He said that the Indian auto industry is going through the toughest phase in history and it needs government help in the form of an incentive-based scrappage policy besides reduction in GST.
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