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Labour Laws
06/09/20264 min read
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Informative
Siam wants GST on two-wheelers to be lowered
Update / Judgement Date
11 Jun 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
GST
The Indian automobile industry, represented by SIAM, urges the government to slash GST rates on CNG and flex-fuel powered two-wheelers from 28% to 18%. They propose a further reduction to 12% post the base rate adjustment. However, GST Council, not the heavy industries ministry, holds authority over tax rates. \r
Hero MotoCorp, Bajaj Auto, and TVS Motor are developing such vehicles. SIAM also seeks the removal of a 3% cess on two-wheelers over 350 cc. High taxes hinder the adoption of eco-friendly vehicles, impacting their affordability and deterring investment recovery, states the industry body.
