“The Goods and Services Tax (GST) is definitely one of the most important tax reform in the history of India which was closely tracked by each and every one this monsoon session of Parliament.
The GST rate and other terms of the tax are yet to be finalized. However once implemented, we expect the effective tax rate to come down (from the current 28% – 35% taxation rate as the two-wheeler sector faces as many as
13 different types of taxations). The new simplified and uniform tax structure will reduce the cascading effect of tax-over-tax, provide a 360 degree ease of doing business for the complete automobile ecosystem, be it suppliers, manufacturers, dealers and most importantly customers who will get the benefit.” said Mr. Yadvinder Singh Guleria – Senior Vice president, Sales & Marketing, Honda Motorcycle & Scooter India Pvt. Ltd.
