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States rule out GST rate cut on automobiles amid grim revenue situation Says slowdown in sector not linked to GST Current Affairs  :- Key states have communicated reservations on a cut in the products and enterprises charge (GST) rate for the auto division as a result of the dreary income circumstance, after the fitment board ceased from suggesting any such decrease. Confronting a developing stoppage, the auto area is sticking expectations on the GST Council meeting on September 20 for a rate slice from 28 percent to 18 percent. Nonetheless, states including Bihar, West Bengal, Kerala, and Punjab are of the view that the stoppage in the auto division isn’t a result of the GST rate yet auxiliary issues in the economy. “Bihar won’t bolster any rate decrease on the auto area, in light of the fact that the income position doesn’t permit this,” said Sushil Modi, vice president serve, Bihar. Sushil Modi even discounted supporting the segment by abrogating the cess par...

Govt will respond to automobile industry’s demand, says FM Sitharaman Car companies’ demand for a tax cut will be decided at the GST Council’s meeting in Goa on September 20, says the finance minister. Current Affairs :- The administration will react to the requests of the car business, said Finance serve Nirmala Sitharaman on Tuesday as the segment detailed the tenth straight month decrease in traveler vehicle deals. Organizations have requested a cut in Goods and Services Tax rates on autos, which have the most noteworthy assessment pace of 28%, yet Sitharaman said the GST Council will choose the issue at its gathering in Goa on September 20. “We are working with every one of the parts the nation over to comprehend the issue and taking measures moreover. This administration tune in to everybody and we are additionally taking measures. Two noteworthy declarations were made in August and September and two increasingly expected,” Sitaraman said in Chennai. “We are cogni...