Thursday, May 30, 2024

Budget 2022 expectations: ACMA asks for uniform GST, revision of RoDEPT rates

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According to Sunjay Kapur, president, ACMA, the automotive industry is witnessing one of the most challenging, yet interesting times, ever. Disruptions due to the pandemic, new technologies and regulations are redefining mobility, he said.

Automotive component industry body (ACMA) Tuesday asked the government to ensure a uniform GST rate of 18% on all auto components as part of measures to support the sector that is going through a downturn.

The apex body of the Indian auto component industry has also requested the government to consider revision of Remission of Duties and Taxes on Export Products (RoDEPT) rates adopting measures for enhancing investments including that for R&D, ACMA said in a release.

According to Sunjay Kapur, president, ACMA, the automotive industry is witnessing one of the most challenging, yet interesting times, ever. Disruptions due to the pandemic, new technologies and regulations are redefining mobility, he said.

“In this backdrop, the recent policy announcements by the Government on PLI scheme, and extension of FAME-II scheme are timely and will facilitate the Indian automotive sector in becoming integral to global automotive value chains while also staying relevant,” he added.

ACMA

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