cars cheaper and neutralise the effect of adopting the expensive BS-VI emission technology as we move into the next fiscal year.They have asked the government to cut GST on vehicles by 10 per cent to bring it down to the basic slab of 18 per cent from the existing 28 per cent. All passenger and commercial vehicles sold in India will be BS-VI from April 1, and are expected to be dearer by 5-10 per cent.Automakers say that this would lead to a 8 – 10% additional cost to the customer on the road price because of which overall GST collections for government is going to improve. However, this extra cost may lead to a fall in demand. “As a win–win situation, we request the government to consider reducing GST on BS-VI vehicles to 18 per cent from the current 28 per cent from 1st April onwards,” a senior automotive executive said.The BS-VI emission standards deadline coincides with the Indian budget recommendations coming in force from April 1st . Though this is subject of GST Council and not related to the budget directly, but is an important element for demand revival for auto.Earlier too the government had boosted demand through… Read full this story
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