Latest News | Strong Case for GST Reduction on Two-wheelers Up to 125 Cc to 18 Pc: Hero MotoCorp CEO
Get latest articles and stories on Latest News at LatestLY. There is a strong case for GST reduction on two-wheelers up to 125 cc as these cater to non-sin goods but mobility option for masses in the country, Hero MotoCorp CEO Niranjan Gupta said on Wednesday.
New Delhi, Jan 15 (PTI) There is a strong case for GST reduction on two-wheelers up to 125 cc as these cater to non-sin goods but mobility option for masses in the country, Hero MotoCorp CEO Niranjan Gupta said on Wednesday.
The government should also continue on the path for long-term growth, stability and investments, he added.
He was answering to a query regarding wishlist for the upcoming Union Budget.
"Honestly, GST is not the subject of the Union budget. But having said that, I would say there's a strong case for GST to move down from 28 to 18 per cent especially for two-wheelers, up to 125 cc, because they are meant as vehicles for masses," Gupta said.
They are not sin or luxury goods but provide mobility to masses in India, he added.
"The entry-level two-wheelers help generate lot of direct indirect employment. So whichever way you look at it, there is a strong case for at least two-wheelers, up to 125 cc to move down to 18 per cent GST," Gupta noted.
Besides, the government should continue on the path for long-term growth, stability and investments so capex investments, should continue to increase, he said.
"The policies should not be changed overnight. So whatever the incentive policies, subsidies, policies, there should be more long-term visibility, because then businesses can adjust to that," Gupta said.
Moreover, expansion of employment generation schemes that have been launched should also be there, he added.
Currently, there is a 28 per cent uniform GST rate for all two-wheelers.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)