Impact of New GST Rates on Heavy Industries

The Ministry of Heavy Industries has announced new GST rates that will significantly affect various sectors within heavy industries, particularly the automobile sector. Key changes include reductions in GST for two-wheelers, small cars, large cars, tractors, buses, and commercial vehicles, aimed at boosting demand, supporting job creation, and enhancing financial inclusion. The changes are expected to stimulate the economy by making vehicles more affordable, encouraging investments, and promoting cleaner mobility.

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