Auto Companies have been for years lobbying for lowering GST Rates, which they say could help boost sales. Company executives are saying that higher GST rates are making vehicles unaffordable for buyers especially as prices of raw materials are increasing, successive fuel price hike, new insurance norms mandating third party insurance cover to be paid upfront for three years for passenger vehicles and five years for two-wheelers and tougher safety and emission rules have already led to increase in prices.
Source Taxguru
