The GST Council meeting scheduled on September 20 will be keenly watched by india Inc as its outcome could prove to be a deciding factor in charting the direction of the economy. Experts believe measures announced by Finance Minister Nirmala Sitharaman over the last one month are not enough to drive an economy that grew 5 percent in the first quarter of FY20 against 5.8 percent in the previous quarter.
This has led to a widespread expectation of a cut in GST rates for auto, hotels, biscuits, cement etc. The hope for a cut is despite multiple reports suggesting it may not happen considering the revenue impact on Centre and states. india Inc. is also hoping there the number of GST slabs and bringing more items in the lower slab from 28 percent now.
gaurav garg said with respect to promoting affordable housing and giving a boost to the real estate sector, the council, might reduce tax rates on cement, steel, ceramic tiles and sanitary wares. FMCG, tax rates on Rs 100 per KG biscuits might be reduced from the current 18 percent to 12 percent, he added.
Maruti Suzuki India is providing offers up to Rs 96,100 on Vitara Brezza Maruti Suzuki India has launched a new festival season specific campaign Ghar Aaya Tyohar. The new campaign showcases the entire range of vehicles sold through the car maker's Arena retail channel, including S-Presso, Dzire, WagonR, Ertiga, Swift, Celerio, Eeco, Alto 800 and Vitara Brezza.
- Skoda Octavia's next generation sketches revealing
- Urbanite brand to be a new division under Bajaj Auto & will spawn electric scooters
- After RTC, cabs to go on strike
- Actor Rajkummar Rao brought home Harley-Davidson Fat Bob, priced from Rs. 14.69 lakh
- Auto sector continues to be on slide due to low consumer demand
- Jawa 90th Anniversary Edition launched in India at Rs.1.73 Lakhs
- Mercedes-Benz delivered over 200 cars on the occasion of Dussehra and Navratri
- 8000 Indians only need Electric Cars
- Priced between Rs. 15 and Rs. 17 lakh, Nexon EV will be launched in FY 2020
- Maruti Suzuki S- Presso launched in India
- MG Hector is open for bookings once again for a limited period
- Benelli India has started pre-booking of the retro-classic Imperiale 400
- Maruti Suzuki anticipates Sales to exceed in September
- Scooters India developed five prototypes of EVs but it is yet to get regulatory clearance for them
- GST rate cut for auto sector from 28 to 18%