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GST rate: Auto industry proposes dual duty structure
Close to 80,000 electric vehicles have been sold in India since the government introduced the FAME scheme as part of the Electric Vehicle Mobility Mission plan in April 2015.Photo: BloombergMumbai: Auto industry lobby, Society of Indian Automobile Manufacturer (Siam), has proposed a dual revenue neutral rate for the auto sector.Addressing the delegates at industry body's 56th annual conference, Vinod K. Dasari, president, Siam, said, "There shouldn't be more than two GST rates for the auto sector," he said hoping that the government takes the suggestion into consideration when finalising the rates.
Diesel vehicles ban: Auto industry lost Rs 4,500 cr in 8 months
As a result of the ban on registration of new diesel vehicles with 2-litre engine by the Supreme Court in December 2015, the automobile industry suffered a loss of R4,500 crore in the last eight months, according to Vinod Dasari, managing director of Ashok Leyland and president of Siam.(Source: Reuters)As a result of the ban on registration of new diesel vehicles with 2-litre engine by the Supreme Court in December 2015, the automobile industry suffered a loss of R4,500 crore in the last eight months, according to Vinod Dasari, managing director of Ashok Leyland and president of Siam.Since January automobile manufacturers notably, Mahindra and Mahindra (M&M), Totoya Motors and Mercedes Benz could not sell their offerings with big diesel engines in the national capital region which took a toll on the volumes and also reflected their topline.
Diesel vehicles ban: Auto industry lost Rs 4,000 crore in 8 months
NEW DELHI: The auto industry suffered a loss of Rs 4,000 crore in 8 months following the ban on sale of diesel vehicles in engine capacity of 2,000cc and above in Delhi/NCR, SIAM President Vinod Dasari said today.The Supreme Court, however, had earlier this month lifted the ban on the registration of such diesel vehicles with one per cent environment cess.Speaking at the 58th Annual Session of the Automotive Component Manufacturers Association (ACMA), Dasari said it was "improper information" supplied to the courts which led to the ban on diesel vehicles."Led by media hype, provided with improper information, the courts decided to ban those vehicles which actually meet the standards set by the government.It is for the first time that when you meet the law you actually get penalised.
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