Govt planning for GST rate cut for automobile sector

Prakash Javadekar, the Union minister of Heavy Industries and Public Enterprises on Friday said the central government is looking into automobile industries recommendation for a reduction in Goods and Services Tax (GST) rates by 10% in all categories of vehicles. The announcement is yet to make.

Speaking at the 60th Annual Convention of industry body Society of Indian Automobile Manufacturers (SIAM), Prakash Javadekar said, “We are in discussion with finance minister Nirmala Sitharaman on GST issues.”

Honda Hornet 2.0 launched in India

Commenting vehicle scrappage policy, Union minister said that central government has received all inputs from stakeholders. “Announcement on the scrappage policy will be made soon,” Javadekar added.

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