Auto Sector will shed 10 lakh workers - needs help

around 70 per cent of auto components have come under the 18 per cent GST slab. However, around 30 per cent remain in the 28 per cent bracket. Automobiles currently attract peak GST rate of 28 per cent with additional cess ranging from 1 per cent to 15 per cent, depending on the length, engine size and type.

Govt must consider reducing GST on these as well as cars to 18% and stimulate demand.

ACMA president is saying the industry has to shed 10000000 jobs unless demand picks up. more  

View all 7 comments Below 7 comments
All say is Good at its own place, NUT wgen these very Manyfacturers werre charging Hugh Premium for years and looted to the Public was NOT crying in similar way at that time.

Then Why NOW. more  
Arguing on this point is like the dog biting into its own tail.

The question arises: what does one want ? Heat up the vehicle production furnace by reducing prices/GST or to reduce traffic density on roads ? This is achievable by raising prices, by increasing road and import taxes. No open back-doors viz. laxity to VIPs, whatever their kind might be.

Put a limit on number of vehicles a family can own. No need for a car to be there for every member; because this is happening today and on a relatively large scale.

Singapore did that. A German car which would be available in Germany for 30k Euro could be bought in Singapore for not less than 850k Euro.

So many other steps could be listed here, but my attempt here was to state a simple rule of economics....... more  
Tax burden in our country is too high.
Cars are purchased by less than 5-10% of the population. Applying a whopping 28% tax is too high. Tax should not be more than 5%.
Add to it the other taxes like road taxes, gateway taxes, petrol taxes, one needs to calculate the whole cost of owning a car and decide accordingly. more  
Mr. Sridhar Mohan states that 1 crore jobs are lost due to the higher GST on Motor vehicles. This is absolutely incorrect. The whole car manufacturing industry does not provide 1 Cr. jobs. From where do u get such data? The fact is that there are far more per-capita cars in our country than any other country in the world, though not even 5% of the population can afford to purchase cars. No jobs are at risk since GST rates are LOWER than the earlier Central Sales Tax and State Sales taxes. let us not propagate wrong information to the public.
The basic issue is that manufacturers are now unable to escape paying GST easily, as earlier they were evading paying Sales Tax. These are the thieves who are propagating such information to divert attention of public by giving them wrong information. more  
After paying 32% tax again to pay 28% for GST to purchase product, it is a big concern for salaried persons.
Tax collected around 60%+ we only left with 40% money to survive in INDIA. more  
Post a Comment

Related Posts

    • GST evasion by traders continues unabated

      See attached this chain called kabliwala in noida sells dry fruits and lots of food items but doesnt give pakka bill with gst number. They have 4 stores computer yet kachha bills. Shame.

      By Sudesh Rai
      /
    • GsTR9

      If a dealer has availed ITC based on physical invoices and same not reflected in GSTR2A for 17-18 financial year how to rectify in GSTR9 now

      By KAMESWARA RAO MYLAVARAPU
      /
    • Govt considering increasing GST rates

      Because of all the shortfall seems like Govt is considering increasing GST rates. It is looking raising rates on goods and services attracting zero tax to 5 per cent, and to 12 per cent from 5 per ...

      By Naina Mittal
      /
    • GST collections dipping why?

      GST collection was supposed to be 110,000 crore in September. Instead it is at 92000 crores. Indicates slowing economy to me. What do others know, think?

      By Naina Mittal
      /
    • Make gst pct display mandatory for hotel sites

      Travel sites like makemytrip are not mentioning GST rates but only amount in booking processes. GST rates have been reduced on various hotel room categories and if % are shown mandatorily ppl will ...

      By Amod Agarwal
      /
    • Help needed related to closing company having pending GST penalty

      Hi, I am looking advise/suggestion on the following problem. I had started a tech startup 3 years back. I failed to create a sustainable business and now moved back to corporate job. I have filed G...

      By Santosh Shet
      /
    • No GST return no eway bill

      Starting 1st Nov unless returns are filed , e-way bills cannot be generated .Alerts will be sent to non- filers after which they will not be able to generate e-way bills if still returns are not fi...

      By Naina Mittal
      /
    • 22 corrupt officers shown door

      Good work Modiji!! The Centre has once again struck corrupt government officials and this time it has forcefully retired 22 senior officers of the rank of Superintendent. The ...

      By Bharat Lal
      /
    • Role of NSIC

      I wish to know the role of NSIC in providing service to MSMEs. As I have seen the only help it renders is to to issue a certificate that the concerned industry is a small scale one and based on ...

      By Sukumaran Nair
      /
    • GST on Credit Card Interest

      When there is no levy of GST on interest charged by bank, why GST is charged on interest levied by credit card on EMI transactions. After all, any credit card is backed by one or the other bank. As...

      By Shyam Maheshwari
      /
    • Govt shouldnt listen to Parle

      After britannia now parle is almost threatening that they will lay off people if govt doesn’t provide stimulus and reduce gst. This is ridiculous. You make high sugar and salt food...

      By Bharat Lal
      /
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.)