Proposed GST rate tweaks on automobiles to end classification disputes

The Centre is planning sweeping GST reforms that could lower taxes on automobiles, now taxed up to 50% including cess. Under the proposal, GST will shift to a two-tier system of 5% and 18%, with 40% for select items. Automobiles may be reclassified to end disputes on engine size and length, making cars more affordable and boosting demand.

from Auto-Industry-Economic Times https://ift.tt/QpIbGja