Govt looking at GST rate cut for automobile sector 

The Government of India on Friday assured support to leaders of the auto industry which has been severely hit by the pandemic.

The Union minister of Heavy Industries and Public Enterprises Prakash Javadekar said the central government is looking into automobile industries recommendation for a reduction in Goods and Services Tax (GST) rates by 10% across all categories of vehicles. The announcement will be made soon, he added.

Speaking at the 60th Annual Convention of industry body Society of Indian Automobile Manufacturers (SIAM), Javadekar said, "We are in discussion with finance minister Nirmala Sitharaman on GST issues."

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Commenting vehicle scrappage policy, Union minister said that central government has received all inputs from stakeholders. "Announcement on the scrappage policy will be made soon," Javadekar added.

(With inputs from agencies)