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GST Relief for Auto Sector Unlikely, Says Report
August 14, 2019
According to a report by The Times of India, automakers in the country that are reeling under massive pressure lately are to be disappointed by the government’s take on the Goods and Service Tax (GST) for the sector.
The report said that as the GST Council is facing considerable revenue deficits, it’s unlikely to extend relief in the GST rates to automobile companies. Although the government hasn’t verified the report yet, it did recently admit that lending to automobile companies has reduced a lot, mainly because of the exit of many NBFCs. However, it will take measures to fill the vacuum, it said.
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