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Parliamentary panel suggests 10% less GST on automobiles

Dec 16, 2020 11:11 IST

A parliamentary panel has suggested a 10% reduction in GST on automobiles to 18% to boost demand. The increased sale due to the reduction in GST rate will cover up the loss in GST revenue, the standing committee on commerce said. It has also recommended that the government should push repo-linked car loans to bring down the lending rates. Given the low level of NPAs in the auto loan segment, the panel recommended banks to implement a liberal lending policy.

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