TIL Desk/Business/New Delhi/ Central government is open to take the industry”s proposal on reducing the Goods and Services Tax (GST) rates on automobiles to the GST Council, said the Minister of State for Finance & Corporate Affairs Anurag Thakur on Friday.
Currently, the GST rates on automobiles are pegged at 28 per cent. However, the industry has demanded that to reverse the consumption slowdown the GST rates should be brought down to 18 per cent. Thakur was speaking at the ACMA annual convention which was held here.
Besides, the Minister asked the auto industry players to reach out to the State Finance Ministers as well, as the decision on any change in GST rates can only be taken by the GST Council. At present, the entire sector suffers from a sales downturn due to several factors like high GST rates, farm distress, stagnant wages and liquidity constraints. Besides, inventory pile-up and stock management of unsold BS-IV vehicles have become a problem for the sector.

कोयंबटूर में 77वें स्वतंत्रता दिवस 11 मीटर ऊंचा स्टील टावर पर घुमावदार एलईडी स्क्रीन
Elvish Yadav wins Bigg Boss OTT season 2, fans erupt in joy
Glimpses from 77th Independence Day at Red Fort in Delhi
सीएम योगी ने 77वें स्वतंत्र दिवस पर किया ध्वजारोहण
Happy 77th Independence Day
President raises climate change concerns in I-Day eve speech
Next year, on August 15 from Red Fort: PM Modi’s big remark on 2024
‘Bharat Mata is voice of every Indian’: Rahul extends wish on Independence Day
“Selfishness of few pushed nation to tragedy of Partition”: CM Yogi Adityanath 