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Don't think government will cut GST rate on automobiles: TVS Motor Chairman Venu Srinivasan - GST Station

Don’t think government will cut GST rate on automobiles: TVS Motor Chairman Venu Srinivasan

Don’t think government will cut GST rate on automobiles: TVS Motor Chairman Venu Srinivasan

    TVS Motor Chairman Venu Srinivasan said on September 24 that although the auto industry is under pressure to clear inventory, the government may not cut goods and services tax (GST) on automobiles as it would impact its finances.

    Srinivasan said that there was disappointment when the government did not make any provisions for an economic stimulus in the last Budget. When asked about the cut in corporate tax, he said that the company may pass on some benefits to customers, and that he believed the corporate tax rate cut would provide a boost to the economy.

    When asked about how long it would take for the auto sector to revive, he said, “It could be 3-6 months for growth and demand to come back.”

    Source- Moneycontrol.

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