India GST Panel May Review Tax Rate on Two-Wheelers, FM Says

India’s GST Council will look into the industry’s demand for lowering tax rate on two-wheelers, Finance Minister Nirmala Sitharaman said.

• The assurance came during an interaction Sitharaman had with industry leaders, the finance ministry said in a statement Tuesday
• Since two-wheelers, which include motorbikes and scooters, are neither counted as a luxury nor a sin good, the tax structure on the product merits a rate revision, Sitharaman was cited as saying in the statement
  • NOTE: Passenger vehicles are currently taxed at the highest slab of 28%
  • NOTE: India July Passenger Vehicle Sales Fall 3.9% Y/y
• Structural reforms are a key ...