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Total 87 results found. Search for [ auto sector GST rate cut ]

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Sumant Banerji
New Delhi, September 11, 2019
Sitharaman's argument that millennials' preference for Ola and Uber is responsible for dismal auto sales was perceived by the auto industry as an excuse for not slashing excise duties to prop up sales - something the government has been hinting at for a week at least


BusinessToday.In
New Delhi, September 11, 2019
Riding high on hopes of GST rate cut, BSE auto index gained 3.6 per cent, or 565.52 points, to close at 16,665, led by index heavyweights such as Tata Motors, Eicher Motors, Maruti Suzuki India, TVS Motor Company and Motherson Sumi Systems


BusinessToday.In
September 11, 2019
Bajaj Auto's Managing Director Rajiv Bajaj believes that the unprecedented slowdown in the auto sector is largely due to \"overproduction and stocking\" by companies based on growth forecasts, and ruled out the need for a reduction in the GST rate


BusinessToday.In
September 10, 2019
Regarding the auto manufacturers' demand to reduce GST rates for automobiles, FM Sitharaman said that the matter will be taken up by the GST Council in its meeting on September 20


Sumant Banerji
New Delhi, September 10, 2019
Auto crisis: This year, the industry is keeping it simple, treating the festive month of October as regular even as both Navratra and Diwali are falling in it. 


Sumant Banerji
September 9, 2019
Auto sales decline in India by 23.5%: In August 2019, overall sales stood at 18,21,490 units against 23,82,436 units in the same month last year.


Rukmini Rao
September 6, 2019
Like other industry players, Harshvardhan Lunia, Cofounder and CEO, Lendingkart, says they are in a wait-and-watch mode to see if the rate cut transmission from banks would actually translate into anything meaningful


Sumant Banerji
September 6, 2019
The automobile industry that accounts for 49 per cent of the country's manufacturing GDP is in the midst of an unprecedented crises with overall sales declining by 14 per cent in this fiscal so far with the passenger vehicle segment posting a near 22 per cent drop


PTI
September 6, 2019



Sumant Banerji
New Delhi, September 6, 2019
While the industry has been lobbying hard for a tax cut, which it believes will lead to a revival in demand, the uncertainty over whether and when it will happen or not has put it in a tight spot


Sumant Banerji
September 5, 2019
Prior to GST, hybrid vehicles were taxed at 30.3 per cent (12.5 per cent excise duty, 12.5 per cent value-added tax, 2 per cent central sales tax and 1 per cent national calamity contingent duty). Under GST, it attracts 28 per cent tax and 15 per cent cess - like big petrol and diesel luxury cars


Sumant Banerji
New Delhi, September 5, 2019
\"We should move towards alternative fuel... I am going to do this, whether you like it or not. And I am not going to ask you. I will bulldoze it. Petrol, diesel gaadi banane walo ka band bajaana hai,\" he had said in September 2017.


BusinessToday.In
September 5, 2019
Clearing the air on the government's plan for petrol and diesel vehicles, Gadkari said that the government doesn't intend to ban these vehicles.


BusinessToday.In
New Delhi, September 5, 2019
Shashank Srivastava, Executive Director of Marketing and Sales in Maruti Suzuki India said that heavy discount were a reflection of their attempt to try and push retail since inventory at both network and factory levels were high.


Reuters
September 5, 2019
India is likely to miss its fiscal deficit target for the current financial year, despite receiving an additional dividend from the the Reserve Bank of India (RBI), five government officials and advisers said, as tax collections have sunk amid a sharp slowdown.


Dipak Mondal
New Delhi, September 4, 2019
While a section of the market believes the government should slash GST rates on cars from 28% to 18% to revive demand, underwhelming monthly GST collection figures are of little comfort to the government


BusinessToday.In
September 4, 2019
The overall volume at India's top four medium and heavy commercial vehicle makers - Tata Motors, Ashok Leyland, Volvo Eicher, and Mahindra & Mahindra - fell 59.5 per cent year-on-year to 31,067 units in August


BusinessToday.In
New Delhi, September 3, 2019
Kerala Finance Minister Thomas Issac said that the central government needs to go for fiscal expansion like the one in 2009 to revive the economy and boost market sentiment


Rashmi Pratap
New Delhi, September 2, 2019
Corporate India's interest outgo is growing faster than its operating income. As sectoral issues combine with a slowdown to pull down earnings, servicing debt could become more challenging


BusinessToday.In
September 2, 2019
Finance Minister Nirmala Sitharaman kindled hopes of a GST rate cut on the same day that several leading auto players announced dismal sales figures for August. The auto industry has long called for a reduction in the GST rate from 28 per cent to 18 per cent to accommodate the downturn.


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