Mr. Sumit Garg, MD and Co-Founder of Luxury Ride
"Given the covid-19 situation, the auto industry has made a paradigm shift towards online buying and selling of automobiles which was previously dominated by the offline market. The buying and selling of vehicles through online platforms have increased tremendously irrespective of the type of vehicle, be it normal or luxury vehicle. Ahead of the budget session, I am hoping that the forthcoming Union Budget 2022 continues to promote the digitization of automobile sector laws, which will lead to increased vehicle sales, and also promote faster transfer of ownership. Paving the way forward, I am hoping that our government will support cheaper taxes by giving some relaxation on the GST rate on used cars. The reduction in GST will give the desired push to the industry and will ramp up the transition from an unorganised to an organised sector, which will bring more business under the GST umbrella and put an end to tax evasion. Also expecting some good announcements in favor of chip shortage, electric vehicles which will bring lucrative advantage to the Auto Industry."
No comments:
Post a Comment