India In Focus - INDIAN ECONOMY: OVERVIEW, GROWTH and DEVELOPMENT - Auto industry unanimous on its demand for gst cut to 18pc.

Position:Goods and Services Tax

The auto industry says all stakeholders have unanimously sought a reduction in Goods and Services Tax (GST) to 18 percent from 28 percent due to a major slowdown in the sector. Rajan Wadhera, President, Society of Indian Automobile Manufacturers (SIAM), said there's an urgent need for the GST reduction to 18 percent. "Need for an immediate reduction in the GST rates has been agreed unanimously by all automobile manufacturers, including the two-wheeler OEMs.

This was also reiterated at a recent meeting with the finance minister...

To continue reading