News dalla rete ITA

14 Agosto 2019

India

INDIAN GOVERNMENT UNLIKELY TO OFFER GOODS & SERVICE TAX (GST) concessions to auto firms

According to the press, the government is unlikely to offer GST concessions to the auto sector as it believes that companies have been slow in responding to consumer demand on BS-VI (the latest version of Bharat stage Emission Standards). Bharat stage Emission Standards (BSES) are emission standards instituted by the Government of India to regulate the output of air pollutants from internal combustion engines and Spark-ignition engines equipment, including motor vehicles. The standards and the timeline for implementation are set by the Central Pollution Control Board under the Ministry of Environment, Forest and Climate Change. Fears also emerge that standard operating procedures to one sector will open floodgates to demands from other sectors. The standards, based on European regulations, were first introduced in 2000. Progressively stringent norms have been rolled out since then. All new vehicles manufactured after the implementation of the norms have to be compliant with the regulations. Since October 2010, Bharat Stage (BS) III norms have been enforced across the country. In 13 major cities, Bharat Stage IV emission norms have been in place since April 2010 and it has been enforced for entire country since April 2017. In 2016, the Indian government announced that the country would skip the BS-V norms altogether and adopt BS-VI norms by 2020. With the government itself facing pressure on the revenue front, chances of a GST reduction are remote, especially when states too have to agree to it in the GST Council. Several auto industry leaders have suggested that a tax cut could provide the necessary stimulus. (ICE NEW DELHI)


Fonte notizia: Economic Times