ENA Sectors 2023-08-09 17:20:48 <p><span style="font-size:14px"><strong>New Delhi, Aug 9 (KNN)</strong> The Federation of Automobile Dealers Associations (FADA) is urging the government to bring down the Goods and Services Tax (GST) rate on entry-level two-wheelers, predominantly within the 100-125 cc segment from 28 percent to 18 percent.</span></p> <p><span style="font-size:14px">FADA recently met with Minister of Road Transport and Highways (MoRTH), Nitin Gadkari, to discuss pressing matters concerning Indias auto retail sector.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">Manish Raj Singhania, President, FADA said, To propel India towards becoming a USD 47 trillion economy by 2047, every segment of our automobile industry must function at its zenith. With two-wheelers accounting for over 75 percent of the volume and more than 70 percent of this stemming from the entry-level category, its imperative to address the over 20 percent decline weve observed since pre-Covid times. Reducing the GST from 28 percent to 18 percent for entry-level two-wheelers is more than just an economic strategy; its about empowering the common man and boosting rural mobility.</span></p> <p><span style="font-size:14px">While several categories within the auto sector have displayed commendable recovery post the Covid-19 pandemic, the entry-level two-wheeler sector remains notably affected. FADA believes that a GST revision would significantly alleviate the burden on potential buyers, especially in rural India, and catalyse the resurgence of this vital industry segment, the association said.</span></p> <p><span style="font-size:14px">The retail body also took the opportunity to invite Gadkari as the Chief Guest for the upcoming 5th Auto Retail Conclave scheduled on September 14, 2023 at Le Meridien, New Delhi.</span></p> <p><span style="font-size:14px">The theme for this year is on Collaborate Accelerate Celebrate, which FADA says reflects the essential tenets for the resurgence and thriving of the auto sector. <em><strong>(KNN Bureau)</strong></em></span></p> 34396 https://knnindia.co.in/news/newsdetails/sectors/fada-urges-govt-to-reduce-gst-to-18-on-entry-level-two-wheelers 2023-08-09 17:20:48 knnindia.co.in