FinMin considering auto makers concern on hike in GST cess: Geete

BusinessLine

FinMin considering auto makers concern on hike in GST cess: Geete

New Delhi, Sep 7, 2017

Finance Minister Arun Jaitley is “seriously” considering the demand of automobile manufacturers who have raised concerns over rise in cess on luxury vehicles, Union Heavy Industries Minister Anant Geete said today.

“We have requested the finance minister (on the cess issue). Industry has given its memorandum and we have forwarded that to the finance minister and he is seriously considering that,” Geete told reporters here.

He was speaking on the sidelines of SIAM’s 57th annual convention.

Luxury vehicle manufacturers have hit out at the move to hike cess on large cars and sports utility vehicles (SUVs) to 25 per cent, saying that it was against the spirit of liberal market dynamics and would affect future plans of expansion under Make in India initiative.

Toyota Kirloskar Motor, Mercedes–Benz, Audi and BMW were unanimous that increase in cess on large, luxury cars and SUVs that had become cheaper after GST rollout would dampen the spirits of the industry across the entire value chain.

The companies also stated that a constant shift in policy makes long-term planning for the market highly risky and it would only have an adverse impact on India’s financial ratings.

The government has notified hike in GST cess on a range of cars from mid-size to hybrid variant to luxury ones to a maximum of 25 per cent, from earlier 15 per cent.

The hybrid push

The Heavy Industries and Public Enterprises Minister also said that the ministry has given six months extension to FAME India Scheme (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India). “We are promoting hybrid and electric cars ... The main cost of electric car is lithium battery, so we trying to see how we can cut the battery price,” he told reporters.

Speaking at the inaugural session of the event, the minister said that the government is committed to supporting the sector in all possible way.

He said that the sector is moving from BS–IV to BS–VI emission norms.

NITI Aayog CEO Amitabh Kant said that the auto sector, which provides 13 million jobs and accounts for 49 per cent of manufacturing, plays a critical role in the country’s growth and development. “Therefore I am great believer that the policy regime has to be predictable, it must be consistent and there must be a clarity ... and government and courts must keep them at arms length,” he said.

Kant said that there will be huge disruptions in this sector in the coming 15 years.

“We must be able to bring the electric vehicle (EV) mobility to India much quicker and faster. We must be able to make EV component manufacturing infrastructure, we must be able to leverage India’s renewable energy mission and we must make India a centre for EV export,” he added.

Kant said that India has a low per capita car ownership at 20 vehicles per 1,000 citizens as compared to 800 per 1,000 in the US and 85 per 1,000 in China. “This gives India an unique opportunity to pursue a very different model of growth in this sector,” he added.

Kant said that there are several challenges to the sector which includes indigenous battery production and pushing India towards zero emission.

Check out the Nokia 2, a budget phone with a monster battery

Android Authority Check out the Nokia 2, a budget phone with a monster battery 19 hours ago HMD Global is slowly building up its portfolio of stock-Android-running smartphones. In addition to the trio of mid-rangers (Nokia 3, 5, and 6) it launched at MWC , the company bolstered its high-end with the Nokia 8 , and now the other side of spectrum is getting some attention. Just leaked by Evan Blass , the Nokia 2 looks… well, like a generic cheap phone. If you have a visceral hate of bezels, you’ll probably want to close this post and move on, but design is hardly the point here. Blass didn’t share any details about the Nokia 2, but we can make some educated guesses based on some other clues we’ve got about the phone. First, you might have noticed that the phones in the leaked renders show October 5 as the date. Dates in renders are often set to match the launch time, but this could be an old render and there’s still time for things to change. Read more Han...

How safe are our kids in schools?

TOI How safe are our kids in schools? 7 hours ago by Praveen Lenka Whatsapp Facebook Google Plus Twitter Email Linkedin SMS SHARE HIGHLIGHTS Parents’ Suggestions Feedback from parents should be taken in the right stride by school authorities. PTA should have more authority and a right to put their points across in all school matters, especially when it comes to the safety of their children. No child, especially small kids, should be allowed to go alone to the washroom. There should be zero tolerance for non-compliance with child safety guidelines. Official authorities should conduct regular checks in schools to ensure that they have implemented safety measures. Schools should take the help of professional counsellors/psychologists to interview potential recruits. Over the past two days, twin incidents of students getting assaulted in their school premises have been reported from the National Capital. Close on...

THE LOST WORLD ( CHAPTER 12)

CHAPTER XII "It was Dreadful in the Forest" I have said—or perhaps I have not said, for my memory plays me sad tricks these days—that I glowed with pride when three such men as my comrades thanked me for having saved, or at least greatly helped, the situation. As the youngster of the party, not merely in years, but in experience, character, knowledge, and all that goes to make a man, I had been overshadowed from the first. And now I was coming into my own. I warmed at the thought. Alas! for the pride which goes before a fall! That little glow of self-satisfaction, that added measure of self-confidence, were to lead me on that very night to the most dreadful experience of my life, ending with a shock which turns my heart sick when I think of it. It came about in this way. I had been unduly excited by the adventure of the tree, and sleep seemed to be impossible. Summerlee was on guard, sitting hunched over our small fire, a quaint, angular figure, his rifle across his knee...

Praveen Lenka Official

Search This Blog