Road Ministry moves GST Council for lower rate on replacements for scrapped trucks

In what could come as a relief to owners of old commercial vehicles, the Ministry of Road Transport and Highway has asked the GST Council to consider lowering the tax rate on replacement vehicles to 18 per cent from 28 per cent.  A positive decision will benefit around seven lakh CV owners, said a senior official in the Ministry. Two components The Ministry’s proposal to the GST Council compr…