Lower GST Rate to Benefit Auto Sector, Boost Domestic Sales: Crisil

Lower GST on automobiles is set to make vehicles more affordable for buyers and create new opportunities for sellers.

- TDG NETWORK

As per a Crisil Intelligence report, the revised GST slab to 18 percent from 28 percent will benefit the auto sector and boost domestic sales.

"The automotive aftermarket segment will also benefit as all components will now be brought under the 18 percent GST slab, thereby leading to a reduction in prices of components taxed at 28 percent by about 7.8 percent," the report said.