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Auto, realty Companies May not get Relief at GST Council Meet Today

Issues related to the tax structure for solar projects, reduction in the tax rate on electric vehicles, and more are expected to be discussed during Sitharaman's first GST Council meeting. Goods and Services Tax (GST) GST Council is unlikely to reduce tax on cement and automobile parts from the peak rate of 28 percent in its meeting on Friday despite intense lobbying by the industry. Facing a severe slowdown, the two sectors — construction and automobile — have been seeking a demand boost from the government. But a tax reduction on cement and auto parts would have meant a revenue hit of Rs 35,000 crore to the government, suggest estimates. Issues related to the tax structure for solar projects, reduction in the tax rate on electric vehicles, e-ticketing for… Source: Business-Standard

 

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