Auto Sector will shed 10 lakh workers - needs help
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
Then Why NOW. more
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
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
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