Lower GST will help entire auto supply chain: TVS Motor's Sudarshan Venu

Govt would look into the auto industry's demand for lowering the tax rate on two-wheelers, said Sitharaman

Sudarshan Venu, joint managing director of TVS Motor, on Wednesday said the government's proposed GST rate cut decision is a welcome move and it will certainly push the demand, if implemented.

TVS Motor stock was up by 4.06 per cent to Rs 463.90 on Wednesday after Finance Minister Nirmala Sitharaman said the Goods and Services Tax (GST) Council would look into the auto industry’s demand for lowering the tax rate on two-wheelers, which are now taxed at the highest slab rate of 28 per cent.

“Since two-wheelers are neither a luxury nor a sin product, they merit a rate revision.