Automobile: 'Reduce tax on 2-wheelers to 18 per cent', urges FADA to GST Council
This appeal comes at a time when two-wheeler sales have witnessed a significant slump over the past few years. Read further on Dynamite News:
New Delhi: The Federation of Automobile Dealers Associations (FADA) has urged the GST Council for an immediate reduction in the GST rate on two-wheelers from the current 28 per cent to 18 per cent.
This appeal comes at a time when two-wheeler sales have witnessed a significant slump over the past few years. FADA said a GST rate cut will make two-wheelers more affordable, reviving demand and reinvigorating the industry.
FADA president Manish Raj Singhania said: “The two-wheeler industry is at a critical juncture, grappling with unprecedented challenges such as rising inflation, stringent emission norms and the post-Covid effects."
“Now is the opportune moment for the GST Council to reduce the GST rate on two-wheelers, making them more accessible for the common man, thereby providing the much-needed boost to the industry, generating employment opportunities and fostering India’s overall economic growth,” Singhania added. (with Agency inputs)