Auto industry urges govt to reduce GST on automobiles from 28% to 18%

Auto industry has approached the government to cut GST on passenger vehicles and two-wheelers from 28 per cent to 18 per cent to compensate the sector, which is expected to see a price hike in range of 10-15 per cent with the coming of new emission and safety regulations. The industry fears that with the increase in prices, the demand for their products would be impacted. Currently, automobiles at…