The auto industry may be desperate for a cut in the goods and services tax (GST) on cars from 28 to 18 per cent, but the bleak revenue position has prompted the GST fitment committee to hold back from approving such a reduction. “With the revenue situation quite grim, one cannot recommend a rate cut on autos at this stage, which is one of the highest revenue contributors.
Source: business-standard.com
Latest Posts in "India"
- High Court Clarifies GST Treatment of Corporate Guarantees Without Consideration
- West Bengal AAR Rejects Hotel ITC Advance Ruling Over Pending GST Proceedings
- IMS vs Purchase Register: GST Reconciliation Guide
- Rajasthan AAAR: Compostable Bags Taxable at 5% Only if Biodegradable
- Tamil Nadu AAR: GST on Foreign Director’s Commission, Export Agents Exempt, C&F Taxable
