Auto trade might urge authorities to reverse GST cess hike
The trade seeks reversal of compensation cess on automobiles which was hiked between 2 % and seven % in September.
The auto trade which has been a key beneficiary of the Items and Providers Tax (GST) is requesting the federal government to make sure adjustments within the price.
The trade seeks reversal of compensation cess on automobiles which was hiked between 2 % and seven % in September – they need the federal government to revive the speed relevant previous to September 11.
It has additionally demanded that the federal government restricts compensation price to 3 classes of autos from the 5 classes at current.
The trade has additionally requested eradicating cess on export of autos and needs a flat price of 5 % on used automobiles from the present 28 % and 43 % of the differential value between shopping for and promoting.
They’ve additionally demanded to cap GST price of 12 % on elements utilized in electrical automobiles which go as excessive as 18 % to 28 % in some circumstances.