Amid the auto industry’s clamour for a cut in the goods and services tax (GST) rate, the GST Council may give a breather to the hybrid vehicles segment in its upcoming meeting. The government is examining a rate cut for such vehicles by doing away with the cess, which will bring down the tax incidence from 43 per cent to 28 per cent.
Hybrid vehicles use both a small internal combustion engine (ICE) and an electric motor for minimising emission. The auto sector is facing the worst slump in 20 years, with sales of passenger vehicles plummeting by 30.98 per cent in July over the ...
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST Rs
Key stories on business-standard.com are available to premium subscribers only.
Already a premium subscriber? LOGIN NOW
Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked.
What you get?
ON BUSINESS STANDARD DIGITAL
- Unlimited access to all the content on any device through browser or app.
- Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
- Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
- Track the industry of your choice with a daily newsletter specific to that industry.
- Stay on top of your investments. Track stock prices in your portfolio.
- 18 years of archival data.
- Requires you to share personal information like date of birth, income, location amongst other fields. This information alongwith your contact information will be shared with the partners associated with this program, who contribute towards subsidizing the offer. By subscribing to this product you acknowledge and accept that our Partners may choose to contact you with offers of their products and services.
- This is an optional offer - Not comfortable with sharing personal data - please opt for the full price offer which requires you to share minimal information