India- Govt to take proposal of GST cut on automobiles to GST Council, says Sitharaman
(MENAFN- KNN India) Govt to take proposal of GST cut on automobiles to GST Council, says Sitharaman
Chennai, Sep 2 (KNN) In a bid to provide relief to automobile industry, Central government would take a proposal for lowering the goods and services tax (GST) rate on automobiles to the GST Council, said Nirmala Sitharaman, Union Finance Minister.
While briefing the reporters in Chennai about the government's efforts to arrest the economic downturn, Sitharaman said a decision on reducing tax rates on automobiles was not entirely in her hands as matters of indirect taxation were now entrusted to a federal body.
She said that the government is addressing the issues of the automotive segment on the backdrop of the recent slowdown in sales.
"One of the suggestion was the reduction of GST rate for the automobile sector, that of course will have to go to the (GST) council, she said.
The council is likely to meet in Goa on September 20.
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