Customer Logins

Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.

Customer Logins

SIAM urges Indian government to reduce GST on cars to 18%

10 April 2019 Isha Sharma

The Society of Indian Automobile Manufacturers (SIAM) has urged the government to reduce goods and services tax (GST) on passenger vehicles from 28% to 18% to ease pricing pressure due to upcoming Bharat Stage VI (BS VI) emission and safety regulations, reports the Press Trust of India. "We want the government to be sensitive to the fact that BS VI emission introduction [from April 2020] and other safety regulations will add to the cost. If it adds to the cost it is likely to lead to a slowdown in the demand," SIAM president Rajan Wadhera said.

Significance: Under the country's GST regime, automobiles are currently taxed at a peak rate of 28% with additional tax ranging from 1% to 15%, depending on the length, engine size and type. The latest suggestion by SIAM for reduction in taxes comes as domestic passenger-vehicle sales posted another decline in March.

Posted 10 April 2019 by Isha Sharma, Need


Read more articles like this one. Get a free trial to AutoIntelligence Daily

The above article is from AutoIntelligence Daily by IHS Markit. Every working day, AutoIntelligence Daily provides about 30 articles focused on automotive news, events and trends. Get a free trial.

Explore

Follow Us

Filter Sort