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GST to Make Hybrid Vehicles Unviable: Indian Automakers
May 25, 2017
Seeing the high tax rate on hybrid automobiles under the new GST regime as a potential obstacle to the development of the technology in India, the Indian automakers have decided to urge the government for a reconsideration this week.
The GST council had announced a high tax rate of 43% on hybrid vehicles last week, which came as an unwelcoming surprise for the auto industry. This is a high jump from the current 29% tax that’s levied on cars. As a result, big players such as Toyota Motor Corp. and Maruti Suzuki will try to get the rate lowered, as confirmed by the sources.
