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    FM Sitharaman: GST Council to decide on cutting GST rates on vehicles

    FM Sitharaman: GST Council to decide on cutting GST rates on vehicles

    FM Sitharaman: GST Council to decide on cutting GST rates on vehicles
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    By IANS   IST (Published)

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    Finance minister Nirmala Sitharaman on Sunday said that the GST Council will take the final call on reducing the tax rate on motor vehicles.

    Finance minister Nirmala Sitharaman on Sunday said that the GST Council will take the final call on reducing the tax rate on motor vehicles.
    Speaking to reporters in Chennai, she said that the government is addressing the issues of the automotive segment on the backdrop of the recent slowdown in sales.
    "One of the suggestion was the reduction of GST
    The council is likely to meet in Goa on September 20.
    Sitharaman said that the sector was facing problems due to several factors, including transition from BS-IV to BS-VI emission norms and prospective buyers were delaying their decision.
    To help revive the auto sector, the finance minister on August 23 had announced the government departments would be allowed to buy new vehicles, automobiles purchased until March 31, 2020 would avail the benefit of additional depreciation of 15 percent, with total depreciation up to 30 percent, and BS-IV vehicles bought until March 31, 2020 would remain operational for their entire registration period.
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