TamilImplement uniform 18 pc GST rate on all auto components: ACMA
12 January 2022, 12:38 pm
Ford Motor Company today inaugurated its integrated manufacturing facility including a state-of-the-art vehicle manufacturing facility and a world-class engine plant in Sanand, Gujarat.
Industry body Automotive Component Manufacturers Association (ACMA) has urged the Centre to implement a uniform GST rate of 18 per cent on all auto components.
In its recommendations for the forthcoming Union Budget, the ACMA requested the government to consider the upward vision of ‘RoDTEP’ (Remission of Duties and Taxes on Exported Products) rates along with adopting measures for enhancing investments, including that for R&D.
“The auto component industry, being an intermediary, has recommended for a uniform GST rate of 18 per cent on all auto components,” ACMA President Sunjay Kapur said.
“The industry has significant aftermarket operations that are plagued by grey operations and counterfeits due to the high 28 per cent GST rate. A moderate rate of 18 per cent will not only address this challenge but will also enhance the tax base through better compliance.”
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