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Thu, Oct 24, 2019 | Last Updated 4:26 am IST

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Why ailing auto sector been in reverse gear for the 10 months?

Why ailing auto sector been in reverse gear for the 10 months?
Why ailing auto sector been in reverse gear for the 10 months?
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Even as auto sales plunged to a multi-decade low in August, the government remains hesitant about the idea of GST rate cuts for the sector. Some states and the GST fitment committee are against the idea of GST rate cut as it would lead to a massive loss in tax collection.

Why ailing auto sector been in reverse gear for the 10 months?

On the other hand, the auto industry is experiencing a free fall as the month of August witnessed domestic sales plunge 31.57 per cent on a year-on-year basis to 1,96,524 units.



With the release of August sales data, the auto sector has been stung by the 10th consecutive month of decline in sales the worst-ever fall since sales data recording started in 1997-98, according to data released by Society of Indian Automobile Manufacturers (SIAM). With just 10 days left for the first GST council meet under modi 2.0 to take place, a lot of confusion remains over GST rate cut for the auto sector.


Why ailing auto sector been in reverse gear for the 10 months?
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