scorpionking76
EntMnt Knight
Car prices could come down significantly if the government-appointed panel's recommendation of a standard tax rate of 17-18 per cent for most goods and services is accepted. Manufacturers, which currently pay 30-50 per cent taxes on cars, are likely to pass the benefits of lower taxes to consumers, analysts say.
"The automobile sector could benefit significantly from GST if the government accepts the recommendations of the GST panel and puts automobiles (except luxury cars) in the general category of standard goods and services with a rate of 17-18 per cent," said Sanjeev Prasad of Kotak Institutional Equities.
Utility vehicle maker Mahindra & Mahindra Chairman Anand Mahindra on Tuesday came out strongly in support of the GST. The government wants to introduce the GST from April 1, 2016, but the biggest revenue shake-up since independence is stuck in the Rajya Sabha, where it does not have a majority.
Small Car Prices May Tumble on GST Implementation - NDTVProfit.com
"The automobile sector could benefit significantly from GST if the government accepts the recommendations of the GST panel and puts automobiles (except luxury cars) in the general category of standard goods and services with a rate of 17-18 per cent," said Sanjeev Prasad of Kotak Institutional Equities.
Utility vehicle maker Mahindra & Mahindra Chairman Anand Mahindra on Tuesday came out strongly in support of the GST. The government wants to introduce the GST from April 1, 2016, but the biggest revenue shake-up since independence is stuck in the Rajya Sabha, where it does not have a majority.
Small Car Prices May Tumble on GST Implementation - NDTVProfit.com
