Auto Companies Profiteering

All auto companies are saying they will not pass benefit of tax cuts to consumer. this is just terrible.

Isnt this straight profiteering? Hows this different from govt reducing gst and they not passing to consumer.

members of circles need to take this up with Govt. The Govt should have just cut our tax rate so people would have gotten more in hand income.

This suits come to india narrative but not put more in the pocket on ground real situation. more  

View all 17 comments Below 17 comments
Absolutely correct. Auto companies are making huge profits which is calculated after a huge royalty payments to their respective foreign principals - Hyndai, Honda, Renault, Ford, Eicher Motors - all of them profiteering without any responsibilities towards India or Indians. BUY TATA only - thats it. more  
You seem to be in a hurry! First check the revised tax structure effective date and then wait and see. Since the auto industries are worst affected by the recent recession in the country's economy, the new auto buyers will certainly be the beneficiaries of the reduced taxes. more  
Mr Sudhir Mehta to please note that the Maruty Udyog has yesterday announced a price cut of their cars. As reported, other car makers are also on the way to reduce their prices. more  
Factually incorrect. Auto companies are making huge profits which is calculated after a huge royalty payments to their respective foreign principals - Hyndai, Honda, Renault, Ford, Eicher Motors - all of them profiteering without any responsibilities towards India or Indians. more  
This is straight away the case of cheating consumers who will not hesitate to file legal case against the auto industry business for refund of the benefit of the tax rate cuts. I hope the government of India does it on its own and refund the recovered unpassed GST-CGST to CWF (in the case of unidentifiable consumers) without any deductions under Section 97, which again is illegal Chungi Deduction by the Government of 50% of the Integrated GST Rate, and direct refund to the identified consumers.

I shall feel obliged if the consumers who have been refused by the dealers and distributors of the automobile industry not to give the benefit of integrated tax cuts to the identified consumers , and refund to CWF as mentioned above.

In case there is any related advertisement by the industry, please bring the same to my notice at "gcmbinty@yahoo.com" by emailing a softy copy. more  
Auto Industries is going through Turbulence. Government has already squeezed out every benefits they had showcased to them. Compared to the red carpet rolled out to KIA, MG & Other new comers and sops extended to them, has Government done any justice to our home grown motor manufacturers? Well, if the Auto Industry has decided to not pass the benefit and defy the Finance Ministers diktat, there definitely is something going on behind the scenes. Any way, CHILL....festivals are around the corner and you will still get Festival Discount continuing from October till January next. Competition will ensure that they slash each others throats if not the Government's. more  
Factually incorrect. Auto companies are making huge profits which is calculated after a huge royalty payments to their respective foreign principals - Hyndai, Honda, Renault, Ford, Eicher Motors - all of them profiteering without any responsibilities towards India or Indians. more  
I wonder where Mr Bhawnani got his news from.

Even if the news is true, every company is free to set its prices, in a competitive market. The auto market is competitive. The government should not intervene to fix their prices.

Because of competition, and because IC engines poison the environment, every company which refuses to move to electric or fuel cell technology, is doomed to die in a few years. If they refuse to pass on any extra profits, they will die faster. RIP. more  
Post a Comment

Related Posts

    • J and J profiteering of 2.3 Billion caught with circle efforts

      The National Anti-profiteering Authority is investigating Johnson & Johnson Pvt Ltd for not passing on the reduction in goods and services tax on a range of its products to customers, a governm...

      By Garima Sharma
      /
    • Why are NAA profiteering orders getting stayed

      Why NAA is not being diligent on how hearings are done and orders are passed. 3 people do the hearing, 4 people sign the order. The Mumbai High Court uses that as basis and stays the NAA order. Sho...

      By Sridhar Mohan
      /
    • Maruti acts after our circle post

      After announcing they wont reduce discount Maruti announces Rs 5k cut in car prices to pass on benefit of reduced corporate taxes but only on select models : Alto, Celerio, ignis & diesel varia...

      By Anil Mehta
      /
    • New GST rate reductions

      A uniform GST rate of 12 % will be levied on woven/non-woven polyethylene bags GST council cuts tax rates on job work in diamond industry to 1.5% from 5% In a major boost to gems and jewe...

      By Anil Mehta
      /
    • Tax cuts - corporates must reduce prices

      The attached tells u how much they can. All fmcgs can reduce price between 0.5% -3% Remains to be seen if they profiteer or pass on.

      By Sudesh Rai
      /
    • Complaint to GST online...

      How to submit online complaint to GST authorities for supplier not remitting GST and we cannot get ITC. Please suggest way out...

      By Vadiraj Bilgi
      /
    • Multiplexes getting booked for profiteering

      Seems like our complaints are leading to good actions. apparently NY Cinemas, PVR Cinemas and the Prasads Multiplex chains are all being investigated for profiteering for not passing gst benefits t...

      By Sridhar Mohan
      /
    • GST Rates Reduction and Profiteering Complaints

      GST law requires suppliers of goods and services to pass on any reduction in the rate of tax or the benefit of input tax credit by way of commensurate reduction in prices. If this is not done, a c...

      By National Anti Profiteering Authority (NAA)
      /
    • PVR cinepolis profiteering big time

      Everyone should report profiteering by multiplexes if observed. Find an old ticket of 2018 and one of 2019 PVR Cinemas and Cinepolis theatres are under the scanner of the anti-profiteeri...

      By Garima Sharma
      /
    • Haier profiteering

      Didnt the Govt of India change gst rates from 28% to 18% for refrigerators? Funny that brands like haier even 13 months after rate reduction maintain their mrp at 65000 NAA ki...

      By Garima Sharma
      /
Share To
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)