New Delhi, Aug. 18 -- Prime Minister Narendra Modi's Independence Day speech from the ramparts of Red Fort apparently sets the stage for Goods and Services Tax (GST) reforms, a forerunner programme of the government launched in 2017.
Stressing on the GST overhaul, the Prime Minister hinted towards a tax relief on the upcoming Diwali, calling it 'Diwali Dhamaka.'
The term 'Diwali Dhamaka' is expected to bring rationalisation of the GST rate for the automobile sector, which is good news for troubled carmakers and auto sector enthusiasts.
Reportedly, the government has proposed lowering of GST on small petrol and diesel cars and two-wheelers to 18 percent from the current 28 per cent, which can be a major relief for manufacturers and auto e...