FADA seeks GST cut on two-wheelers from 28 to 18%
Bengaluru, May 20 (KNN) The Federation of Automobile Dealers Associations (FADA) has urged the GST Council to reduce the rates on two-wheelers from the current 28 per cent to 18 per cent.
The intervention has been sought to make two-wheelers more affordable, thus reinvigorating an industry that has seen a slump in sales over the past few years, reported TOI.
FADA president Manish Raj Singhania said, “The two-wheeler industry is at a critical juncture, grappling with unprecedented challenges such as rising inflation, stringent emission norms and post Covid-19 effects in India.”
“Now is the opportune moment for the GST Council to reduce GST rate on two-wheelers, making them more accessible for the common man, thereby providing much-needed boost to the industry, generating employment opportunities and fostering India’s overall economic growth,” he said.
Federation of Automobile Dealers Associations is the apex national body of Automotive Retail Industry in India. (KNN Bureau)