Chennai sources have stated that the nearly $18 billion Group Mahindra is finalizing its ambitious automotive foray into the US market starting from 2019 when an off road product entirely developed by the company's Detroit R&D centre, will be launched in that market.
Korean group company Ssangyong too is planning to debut its products in the US in the next 18 months. According to company sources, M&M is readying for full-fledged US push given that its earlier legal cases have now all been sorted out. Mahindra's US foray is being spear-headed by Mahindra North American Technical Centre (MNATC).
The company's R&D centre in Detroit, which is
currently working on two separate products, one for the Indian market and
another entirely for the US market.
Meanwhile a senior company source had said that "MNATC is developing an off-roader product for the US market which is expected to be launched sometime in 2019". It has also developed another product which will come to the Indian market by the middle of financial year 2017-18.
GST not imposed for second hand car sold by an individual New Delhi sources have stated that the Revenue Department had clarified that sale of old jewelry as well as old vehicles by individuals will not attract any GST as the sale is not for furthering any business. Meanwhile when clarifying on Revenue Secretary Hasmukh Adhia's comments yesterday stating that it was informed at GST
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