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Auto Slowdown: Is GST rate cut the answer to the sector's prolonged crisis?

Updated : September 18, 2019 03:03 PM IST

The ongoing slowdown has pushed the automobile sector into its worst crisis in two decades with the sales contracting for the ninth straight month in August, claiming the livelihood of several.
As the sector bled, finance minister Nirmala Sitharaman hinting at more steps to help the auto companies raised hopes of GST rate cut among the industry players. 
However, sources have told CNBC-TV18 that the sector is unlikely to see any decision on the GST rate cut in the Council meet on Friday as the fitment committee has rejected the proposal.
Auto Slowdown: Is GST rate cut the answer to the sector's prolonged crisis?

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