Auto Components Industry Seeks Uniform 18% GST

Raju Choudhary

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Auto Components Industry Seeks Uniform 18% GST - Check Latest news on gst and recent updates related to GST

Auto component industry sought uniform 18 percent Goods and Services Tax across the sector stating that low taxation would lead to better compliance and larger tax base.

The industry, which reported a growth of 18.3 percent to Rs 3.45 lakh crore in 2017-18, said the lower tax levy would also help in curtailing grey market operators.

“One of the key demands of the industry has been a uniform 18 percent GST rate across the auto component sector. Currently 60 percent of the components attract 18 percent GST rate, while the rest 40 percent, majority of which are two-wheelers, and tractor components attract 28 percent,” Automotive Component Manufacturers Association of India (ACMA) President Nirmal Minda told reporters.
 
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