Auto Dealers Seek Early Implementation Of New GST Regime To Avoid 'Whitewash' In Festive Season

In a letter to Commerce and Industry Minister Piyush Goyal, the Federation of Automobile Dealers Associations stated that the announcement has created a challenging situation at the ground level.

Industry executives project a 20-30% sales growth this festive season, with early signs suggesting strong consumer sentiment.

Volatility in India's debt markets drove the yields higher, while the NSE Nifty 50 posted gains after the GST reforms announcement. Find out what has created such varying reaction from both markets.

PM Narendra Modi announced on August 15 to bring "next-generation" GST reforms that will reduce the tax burden across the country.

FADA has requested preponing the GST Council meeting, reportedly scheduled in September.

Jefferies observed the government has largely adopted a ‘hope for the best, prepare for the worst’ stance on US tariffs.

GST Reforms: The all-powerful GST Council will meet on Sept 3–4 in the national capital to deliberate on the simplified two-structure GST tax slab of 5% and 18% proposed by the Centre.

Quarterly GDP growth averaged 8% during the UPA era and 6.2% under Modi.

GST reduction is a welcome thing, but in the interim, it will cause some pain, according to B Thiagarajan, Managing Director, Blue Star.

GST rate cuts will benefit the 'entire auto industry', say experts. However, customers are not purchasing new cars for now to avail the discounts.

The high-powered GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on September 3-4 to discuss moving to a two-slab taxation.

Dixit, the founder of Medhini Products, a manufacturer and exporter of packaging items stood his ground against the scammer.

The GST Council will decide on the GoM's proposal to retain only 5% and 18% slabs, which will result in the scrapping of the 12% and 28% slabs.

The Centre's proposed reduction in GST is also expected to lead to a drop in costs for car buyers, reducing on-road prices as well as EMIs.