The Ministry of Heavy Industries (MHI) has thrown its weight behind a proposal by the Society of Indian Automobile Manufacturers (Siam), supporting its request to reduce the goods and services tax (GST) on compressed natural gas (CNG)-powered two-wheelers from the current 28 per cent to 18 per cent, and eventually to 12 per cent in stages.
A letter dated January 1, 2025, addressed to the revenue secretary in the finance ministry, highlighted that the proposal was also supported by other key ministries, including the Ministry of Road Transport and Highways, led by Nitin Gadkari, who initially proposed the move, and the Ministry of Environment, Forest and Climate Change.
The Ministry of Petroleum and Natural Gas (MoPNG) has taken it a step further by advocating for a reduction in GST on CNG-powered passenger cars, in addition to supporting the reduction for two-wheelers.
Diese Geschichte stammt aus der January 08, 2025-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der January 08, 2025-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Budgeting in the time of Trump
For the uncertain times ahead, the Budget must balance growth, jobs, and governance—and the recipe is distinctly unglamorous
2025: India's Tech Transformation Year
In 2025, India will reach two key milestones—becoming a $4 trillion economy and surpassing Japan to become the fourth-largest globally.
US report warns of risks from online pharmacies
China's consumer inflation weakened further toward zero, decelerating for a fourth straight month in a setback for government efforts to stamp out deflation and revive demand by injecting stimulus into the economy.
China retail inflation fell to nearly zero in Dec despite stimulus
China's consumer inflation weakened further toward zero, decelerating for a fourth straight month in a setback for government efforts to stamp out deflation and revive demand by injecting stimulus into the economy.
Tory bid to force probe into 'grooming gangs' fails
The UK's opposition Conservative Party Tory tried and failed to force Prime Minister Keir Starmer into holding a national inquiry into a scandal surrounding so-called child grooming gangs.
AI May Kill 200K Jobs at Global Banks
Global banks are expected to cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, according to Bloomberg Intelligence.
Musk, allies plan to 'oust' Starmer as British PM
Billionaire Elon Musk has held private discussions with allies about removing British Prime Minister Keir Starmer from his position before the next general election, the Financial Times reported on Thursday.
WHERE INNOVATION MEETS SUSTAINABILITY
As electrification, sustainable practices, and localization take center stage, the Bharat Mobility Global Expo 2025, highlights India's growing role as a global automotive manufacturing hub, driving innovation and environmental responsibility, writes Garima Dutt
Accelerating Localization: India's Auto Component Industry and the 'Make in India' Push
The COVID-19 pandemic underscored the vulnerabilities of global supply chains, prompting Indian manufacturers to shift focus from global sourcing to regional suppliers.
India's Auto Component Sector: Driving Toward a Global Future
The Indian automotive component industry is experiencing a profound transformation, driven by innovation, sustainability, and government incentives such as the Production Linked Incentive (PLI) scheme.
