ADVERTISEMENT
Saturday, January 16, 2021
news247media.in
No Result
View All Result
  • Home
  • How To
  • Relationship
  • Entertainment
  • Trending
  • Health
  • Auto
  • lifestyle
  • Movie
  • sports
  • Tech
  • Education
  • Astrology
  • science
  • Home
  • How To
  • Relationship
  • Entertainment
  • Trending
  • Health
  • Auto
  • lifestyle
  • Movie
  • sports
  • Tech
  • Education
  • Astrology
  • science
No Result
View All Result
news247media.in
No Result
View All Result
ADVERTISEMENT
Home Auto

“Two-Wheelers Advantage A GST Charge Revision,” Says FM Nirmala Sitharaman – carandbike

mohit by mohit
August 26, 2020
in Auto
0
"Two-Wheelers Merit A GST Rate Revision," Says FM Nirmala Sitharaman - carandbike
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


ADVERTISEMENT

The Items and Companies Tax (GST) on two-wheeler may see a discount in a bid to spice up demand for the auto trade, in accordance with Finance Minister Nirmala Sitharaman. The central authorities minister was talking throughout a digital discussion board organised by the Confederation Indian Industries (CII) and conveyed that two-wheelers are “neither a luxurious nor a sin good,” and therefore would benefit a charge revision. The assertion might be a constructive step in the direction of bettering the gross sales sentiment for two-wheelers as producers have been battling sliding volumes for almost two years now.

Responding to a query about GST cuts for two-wheelers, Finance Minister, Nirmala Sitharaman mentioned that it’s a “good suggestion to chop GST on two-wheelers as this class is neither a luxurious nor a sin good and therefore deserves a charge revision”. Consequently, will probably be taken up with the GST council, she added additional.

Two-wheeler makers have been requesting a minimize in GST charges because of increase demand

The 2-wheeler trade has been underneath duress because the final quarter of 2018 because of the rising acquisition value. Costs for two-wheelers elevated due to IRDAI’s obligatory five-year third-party insurance coverage regulation, which was not too long ago rolled again. As well as, the brand new security rules made obligatory noticed producers including extra security elements like ABS and CBS on two-wheelers, additional driving up the fee. With the BS6 norms kicking-in, scooters and bikes had been subjected to a complete redevelopment with new applied sciences added to make the automobiles emission-friendly. The general value of a two-wheeler has elevated to just about 18-20 per cent.

0 Feedback

The COVID-19 pandemic and the following lockdown has additional impacted gross sales by a giant margin. Presently, two-wheelers entice a 28 per cent GST, identical as vehicles and SUVs. Two-wheeler producers have been requesting the federal government for GST cuts as a brief within the arm for gross sales right down to 18 per cent. The revised GST construction will considerably scale back costs on the scooters and bikes and can assist spike demand within the rapid months.

For the newest auto information and opinions, observe carandbike.com on Twitter, Fb, and subscribe to our YouTube channel.





Supply hyperlink

READ ALSO

Mahindra Thar#1 Auction Hits The Rs. 1 Crore Mark – carandbike

Buick Teases Electra Concept Foreshadowing Its Electric Future  – carandbike

ADVERTISEMENT

Share this:

  • Twitter
  • Facebook
Tags: auto newsgstgst ratesgst rates autonewsnirmala sitharamantwo wheeler gst ratestwo-wheeler sales

Related Posts

ajqi3o4g
Auto

Mahindra Thar#1 Auction Hits The Rs. 1 Crore Mark – carandbike

September 29, 2020
Buick Teases Electra Concept Foreshadowing Its Electric Future 
Auto

Buick Teases Electra Concept Foreshadowing Its Electric Future  – carandbike

September 29, 2020
In Mumbai, petrol and diesel retail at Rs. 87.74 and Rs. 77.04 per litre respectively
Auto

Diesel Sees Marginal Price Cut Of Up To 8 Paise In Metros; Petrol Rates Unchanged – carandbike

September 29, 2020
Auto

Tata Altroz Turbo Petrol Engine Specifications And Price Details Leaked – carandbike

September 29, 2020
Groupe PSA Launches Eurorepar In India; Signs Agreement With GoMechanic
Auto

Groupe PSA Launches Eurorepar In India; Signs Agreement With GoMechanic – carandbike

September 29, 2020
Quartararo is back after a couple of near-misses in the previous rounds to lead the championship
Auto

MotoGP: Quartararo Wins Catalan GP; Takes Back Lead In Standings – carandbike

September 27, 2020
Next Post
The Triumph Trident design prototype is expected to be priced around Rs. 6.5 lakh

Triumph Trident: What We Know So Far - carandbike

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ads

No Result
View All Result

Recent Posts

  • Religion, psychology share methods for reducing distress, study finds
  • Scientists develop a cheaper method that might help create fuels from plants: Chemists, engineers create a key component of bioenergy production in lab
  • Which came first, sleep or the brain?
  • Nanocrystals that eradicate bacteria biofilm
  • Tasmanian tiger pups found to be extraordinary similar to wolf pups

Categories

  • Astrology
  • Auto
  • Education
  • Entertainment
  • Health
  • How To
  • lifestyle
  • Movie
  • Relationship
  • science
  • sports
  • Tech
  • Trending
  • Uncategorized
  • About Me
  • Contact Us
  • DMCA
  • Privacy Policy

© All copyright 2020 news247media

No Result
View All Result
  • Home
  • How To
  • Relationship
  • Entertainment
  • Trending
  • Health
  • Auto
  • lifestyle
  • Movie
  • sports
  • Tech
  • Education
  • Astrology
  • science

© All copyright 2020 news247media