In this edition of Big Story, let's find out why finance ministry might not slash GST rate cut on two-wheelers.
The Finance Ministry seems to be having seconds thoughts on whether to agree to the auto industry's demand of slashing the Goods & Service Tax (GST) rate.
The country’s largest two-wheeler maker, Hero MotoCorp has been pitching for a reduction of the GST rate on two-wheelers to 18 percent from the top slab of 28 percent to spur demand.
Maruti Suzuki, Force Motors and Toyota Kirloskar executives have time and again said high taxes on automobiles were restricting the sector’s growth by making the ownership of vehicles unattractive for consumers.
So, why these automakers are pitching for a rate cut? And will the Ministry of Finance ministry provide some relief in GST rates? Let's find out.First Published on Sep 18, 2020 08:31 pm