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Auto body knocks on FinMin door for faster GST reforms
Business Standard
|August 28, 2025
Also seeking clarity on issue of compensation cess
The Society of Indian Automobile Manufacturers (Siam) has approached the Ministry of Finance, requesting it to fast-track the proposed reduction in goods and services tax (GST), which, if not implemented early, could dampen the auto sector's festival sales.
The industry body is also seeking clarity on the issue of compensation cess.
Mahindra & Mahindra (M&M) is stopping its wholesale supply of 'high-ticket internal combustion engine (ICE) vehicles' above ₹15 lakh to dealers, owing to a possible loss on compensation cess, and low sales during the month.
Sources indicate that other companies are also contemplating the move, which may dampen the wholesale numbers for August and September.
"Siam has sought early implementation of GST reforms. It also wants compensation cess concerns to be solved immediately," said a source aware of the development.
Denne historien er fra August 28, 2025-utgaven av Business Standard.
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