Mumbai, Sept. 23 -- Society of Indian Automobile Manufacturers (SIAM) President Rajan Wadhera said that GST rate on vehicles should be reduced from 28 percent to 18 percent.
The sub-segment of 10-13 seaters, which is of less than four meters, has seen a reduction in GST Compensation cess, which is a long-pending request of SIAM and is a positive step by the Government. SIAM had requested for abolishing compensation cess for the whole segment of 10-13 seaters vehicles, however, the benefit has been partially met.
"The industry has to find its own balance to enhance demand. We hope the festive season with positive financial market boost noticed, will bring positive consumer sentiments. We are hopeful that all recent measures taken by the Fi...