Shailesh Chandra, president of the Society of India Automobile Manufacturers (SIAM), said the government’s decision to reduce GST on vehicles was welcomed by the automobile industry, especially during the festival season.
He further said, “This timely move has been created to renew customers and inject new speeds in the Indian automotive field.
“Especially to make vehicles more affordable in the entry-level section; these announcements will make the first time the buyer and medium-efficient families will make significant benefits, which will enable extensive access to personal mobility.”
Expressing similar emotions, the Federation of Automobile Dealers Association (FADA) Chairman C.S. Vigneshwar said that “bold and progressive improvement” facilitates tax structure, consensus low rates for a large number of mobility and in all states. He said, “This is a crucial step that will lead to affordable, promoting demand, and the mobility of India will be stronger and more stronger to environment,” he said, “When going to the country during the festive season of the country, free and implementation will be an important key.” TVS Motor Company Chairman Darshan Venu said that the GST rate reduction government has taken a big step for further growth of turbocharves.
“This will significantly increase the use of sections of the community.
He said, “This is a welcome job, especially for our industry, as it will help the two -wheeler to get more accessible and help the interested uprunders to upgrade,” he added.
The moon also welcomed the start of 5 percent of the GST rate on electric vehicles on electric vehicles, saying it will “help maintain the current speed” in the direction of durable dynamics “.
He said the business process in the automotive industry will be widely streamlined and supporting the ease of business will be a great deal of category explanation and improvement of inverted duty structures.
Chandra also mentioned that the auto industry is “confident that the government will soon indicate the appropriate mechanism for the use of non -selling vehicles, ensuring a smooth and effective transition.”
Similarly, Vigneshwar said, “One of the areas that may require as soon as possible is that about the levy and treatment of the cess balance that is currently in the vendor books, so that there is no ambiguity during the transition.”
The GST Council on Wednesday approved the slab up to 5 percent and from the first day of Navratri to 18 percent and 18 percent to 18 percent.
Under it, petrol, LPG and CNG vehicles will be less than 1,200 cc and a length of more than 4,000 mm and up to 1,500 cc and 4,000 mm in length will go to 18 percent.
In the past, GST was attracted to 28 percent GST 1 percent and 28 percent of the GST, including 3 percent compensation category in these two categories.
Motorcycles up to C350 cc will be taxed at low GST compared to the previous 3 PR.
All automobiles of more than 1,5 cc and more than 000,5 mm, as well as C350 CC and more motorcycles than racing cars will be charged Cent percent.
The small hybrid carash will also benefit, while the EVS will be charged 5 percent.