The Union Minister PrakashJavadekar has hinted good news to the automobile industry stating a possibility of GST rate reduction. He has said that details of the proposal of GST rate cut have been worked out by Finance Ministry but he is not privy to such details. Addressing the 60th annual convention of auto industry body SIAM, the minister said “the automotive industry is important for Indian economy and we would like to support the industry by providing incentives for increasing its competitiveness,especially with a focus on exports”.
