Govt’s sops for auto sector: Hero reiterates demand of cutting GST

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While applauding Finance Minister Nirmala Sitharaman’s sops for the auto sector, India’s largest two-wheeler maker Hero reiterated its demand of a goods and services tax (GST) rate cut on two-wheelers, which it said was necessary to revive demand. “The announcements specific to the automotive sector provide clarity and positivity to both OEMs and customers. However, we would reiterate our request that 2-wheelers, which are neither luxury nor ‘sin’ goods, require a reduction in the rate of the GST from 28 percent to 18 percent.

This will help boost demand immediately, leading to an even more positive impact. We hope this will be addressed in the next round of measures,” said Vikram Kasbekar executive director operations (plants) and chief technology officer, Hero MotoCorp. Hero’s stance brings to fore the difference between them and rival Bajaj Auto which wants a GST cut closer to BSVI norms kicking in.

Read more at: https://www.business-standard.com/article/automobile/govt-s-sops-for-auto-sector-hero-reiterates-demand-of-cutting-gst-119082400035_1.html