Tax on hybrids should be merit-based: Toyota Motor
The New Indian Express|June 09, 2024
AMID growing popularity of hybrid vehicles in India, Toyota Kirloskar Motor (TKM) said the final call taken by the GST Council regarding tax relief on hybrid cars should be "meritbased" rather than the current system where taxes on fourwheelers are determined by body and engine size.
ARSHAD KHAN

The manufacturer of Innova Hycorss and Hyryder models said they are doing their best to bring down prices of hybrids in India.

"It is up to the GST Council to take a call on GST rate on hybrids... What we are saying is that policies and taxation should be aligned towards the national goals (i.e becoming self-energy reliant and reducing carbon emission) and enabling consumers to make a better choice in terms of technology meeting those national goals," said Vikram Gulati, country head and executive vice-president, Toyota Kirloskar Motor.

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SUPPLIERS of goods and services will have to give undertakings signed by Chartered Accountants (CA) or Cost Accountants (CWA) that they will reverse any ITC claimed on discounted supplies.

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RBI warns of faster private credit growth, says it risks financial stability
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THE Reserve Bank has wanred of the rapid growth of private credit, which has jumped over four-fold in the past 10 years, due to their growing interconnectedness with banks and non-banking lenders, which can create vulnerabilities.

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Sensex touches 79K, Nifty overcomes 24K hurdle

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The New Indian Express

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General Zuniga claims the prez asked him to stage an uprising to trigger a crackdown, to make him look strong to boost his sagging approval rating

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