(Manisha Mahar, Intern Journalist); If you are going to buy a new motorcycle or scooter, then waiting a little longer may prove more beneficial for you. Actually, Heavy Industries Minister Prakash Javadekar says that people may soon hear the good news of GST reduction on two-wheelers. According to the reports, the GST Council will meet on 19 September. According to sources, the GST rates on two-wheelers can be reduced from 28 percent to 18 percent in this meeting. If this happens, the prices of two-wheelers in the country will become much cheaper.
The Minister of Heavy Industries has indicated the reduction in GST rates on vehicles at the 60th annual conference of SIAM. He said that he would discuss with the Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman the demand of the auto industry to reduce the GST rates. During this, he said, “I hope that you guys will get to hear some good news soon”. Apart from this, he said that a proposal for a junk vehicle has been prepared.
According to sources, the government can only reduce the GST rates on two-wheelers. According to sources, the government is under great pressure to reduce GST on vehicles, but the government will not reduce GST rates on cars. Actually, if the government does so, it can have a negative impact on its revenue.
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