Indian Auto Industry

Union Budget 2021: Auto industry optimistic about recovery from pandemic; expects cut in GST rates

The removal of restrictions to avail the input tax credit of GST paid on automobiles for businesses would make vehicles more affordable when used for business purposes, besides fulfilling the basic intention of GST to eliminate cascading of taxes.

Union Budget 2021: Defer timelines for Phased Manufacturing Program for EVs, automakers need time to set up facilities

Incentives on scrapping old vehicles and replacing them with revised emission norms compliant vehicles will catalyse automotive production and sales.

Union Budget 2021: Auto dealers' body demands depreciation benefits for individual taxpayers

In its Budget recommendations, the Federation of Automobile Dealers Associations also said auto dealers should be kept out of annual tax collected at source of 0.1%