GST on Two-Wheelers may be reduced: Every person in India uses two-wheelers, but the GST rate on these vehicles is equal to luxury vehicles. However, now a big decision can be taken by the government on this subject soon. In fact, recently Finance Minister Nirmala Sitharaman said during an interaction with an industry that two-wheelers are neither a luxury item nor is it a harmful goods. Hence their GST rate can be revised.
GST Rate On Two Wheelers
Let me tell you, at present 28 percent GST is levied on two-wheelers like motorcycles, mopeds and bicycles. The news of this possible revision of GST on a two-wheeler has been welcomed by the Indian automotive industry. However, it is believed that the tax on two-wheelers will be reduced soon. On this subject, the country’s largest two-wheeler manufacturer Hero MotoCorp last year urged the government to consider reducing the GST on vehicles, which said an 18 percent slab on 150cc bikes.
Two-wheelers are the basic needs
AMRG and Associates Senior Partner Rajat Mohan said that “Two-wheelers like motorcycles, mopeds and small motorized bicycles have the highest GST bracket within the 28 per cent range. Two-wheelers are the basic needs of several thousand families in the country. On which cigars , GST is levied on par with tobacco, pistols and racing cars. ”
GST Council meeting
Finance Minister Nirmala Sitharaman has mentioned this before the GST Council meeting on 19 September. In such a situation, it is believed that in this meeting a decision can be taken regarding the GST on two-wheelers. If this happens, there can be a huge increase in the sale of vehicles in the festive season.