Small Car Prices May Tumble on GST Implementation

Car prices could come down significantly if the government-appointed panel's recommendation of a standard tax rate of 17-18 per cent for most goods and services is accepted. Manufacturers, which currently pay 30-50 per cent taxes on cars, are likely to pass the benefits of lower taxes to consumers, analysts say. "The automobile sector could benefit significantly from GST if the government accepts the recommendations of the GST panel...