Auto industry GST slabs: First-time buyers, middle-income families to gain; sector seeks clarity on cess

The Goods and Services Tax (GST) Council reduced tax rates on vehicles. The automobile industry leaders welcomed this decision. They said it would boost demand and affordability. The new tax structure includes 5% and 18% slabs. Shailesh Chandra and C S Vigneshwar expressed positive sentiments. Sudarshan Venu said the cut would turbocharge growth.