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  • Category: Stock Market

    What are the benefits/impetus given to automobile sector in the budget?

    Have a query about the impact of budget on the automobile sector? Wondering whether it is worth investing in the automobile market? Get answers to your questions here.

    I am trying to find out the benefit/impetus given in the budget tabled by the Finance Minister for the next financial year. Specifically, I would like to know whether the Government has proposed any boost to the automobile sector in the budget, or not. Further, which specific sectors would be benefitted from the proposed budget? This information is required for share market investment purpose.

    Point-wise, precise responses will be highly appreciated.
  • Answers

    2 Answers found.
  • Budget for automobile in 2018
    1) Used motor vehicles will have tax rate 18%. Industries and boost consumers will be benefited.
    2) There is reduction of GST to 5% on all EV'S [Electric Vehicle].
    3) There will be rebate on Income Tax for consumer's on adopting Electric Vehicle.
    4) Electric Components Tax for all imports should be 5%.
    5) Import duties on DC-DC converters, motors, controllers should be nil in the 1st year and then will be increased to 10% in four year and 20 % to six year.
    This all about automobile which was informed in daily news paper.

  • The high light of budget of 2018 in relation to concession of tax is as follows-
    1) In order to encourage the usage of electric - vechiles, the consumers would get appropriate rebate in terms of Income - tax.
    2) GST has been revised to the level of 5 percent in case of usage of Electric - vechiles.
    3) In order to arrest pollution as a result of operation of Petrol and Diesel vechiles, no reduction in terms of GST has been offered.
    4) Import of electric - component would surge in the wake of low tax.
    5) Entrepreneurs interested to instal such factories producing Electic - vechiles would get appropriate confession so as to boost their positive sentiments.

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