Car companies’ demand for a tax cut will be decided at the GST Council’s meeting in Goa on September 20, says the finance minister.
Current Affairs:-The administration will react to the requests of the car business, said Finance serve Nirmala Sitharaman on Tuesday as the segment detailed the tenth straight month decrease in traveler vehicle deals.
Organizations have requested a cut in Goods and Services Tax rates on autos, which have the most noteworthy assessment pace of 28%, yet Sitharaman said the GST Council will choose the issue at its gathering in Goa on September 20.
“We are working with every one of the parts the nation over to comprehend the issue and taking measures moreover. This administration tune in to everybody and we are additionally taking measures. Two noteworthy declarations were made in August and September and two increasingly expected,” Sitaraman said in Chennai.
“We are cognizant that we have to react,” Sitaraman said.
Household offers of traveler vehicles fell 31.6 percent year-on-year to 196,524 units in August, as indicated by the information discharged by the Society of Indian Automobile Manufacturers (Siam). That is the steepest decrease since 1997-98 when Siam began recording information.
Bike deals — a key indicator of the country economy — additionally dropped by 22.24 percent to 1,514,196 units against 1,947,304 units in a similar period a year ago. Organizations, careful about heaping stock, depended on clutching their stock. They likewise cut creation, which prompted a decrease in dispatch to sellers.
Sitharaman was tending to the media on the National Democratic Alliance (NDA) government’s 100 days at office in its second back to back term while introducing a report card.
Aditi Mehta 