New Delhi: Due to the recession in the country, all industries and businesses are troubled. The auto industry has been the worst hit. Vehicle companies are demanding a relief package from the government. Companies are also worried about GST. Currently, the GST rates on automobiles are 28 per cent. Minister of State for Finance Anurag Thakur said that the central government will put the industry proposal to reduce GST on automobiles in front of the GST Council.
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He told the vehicle companies that the vehicle companies have been asked to raise the issue of reduction in the goods and services tax in front of the state finance ministers included in the GST Council. Vehicles and parts manufacturers are demanding a reduction in the GST rate on automobiles from 28 per cent to 18 per cent. Regarding the reduction in GST rate on automobiles, Anurag Thakur said at the annual conference of auto parts manufacturers (Automotive Component Manufacturers Association), "You know that the first fitment for any kind of reduction in GST rate Permission has to be obtained from the committee and then from the GST Council.
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"I urge all of you to meet the Finance Ministers of the states included in the GST Council and put forth their views in front of them". After the conference, the Minister of State for Finance while talking to the media said that "the Finance Ministers of the states should be aware of the challenges of the vehicle manufacturers". He said that the vehicle manufacturers should also make them aware of this so that whenever this topic is discussed in the GST Council, everyone should have their own opinion on it.
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