Nitin Gadkari asked FinMin, GST concession to potential vehicles buyers

New Delhi: Talking in the context of Vehicle Scrapping Policy, the Union Road and Transport Minister Shri Nitin Gadkari on Thursday, March 18, 2021 urged Finance Minister Smt. Nirmala Sitharaman to reduced Goods and Service Tax (GST) on the vehicle buyers.  

The ministry of road and transport believes this will relieve the buyers for opting for the Vehicle Scrapping Policy, commenting on this in detail Gadkari said, "I have asked Finance Minister to consider a GST concession to the potential buyers opting for vehicle scrappage policy. The old vehicle will be scrapped and once the customer will buy a new vehicle, both central government and the state governments will get revenues to the tune of Rs 30,000 crore to Rs 40,000 crore." Passenger vehicles fall under the 28 percent GST slab.

He also added, "we have made a request the last decision will be theirs". Let be clear that all the policy decisions related to the GST are taken by the GST council, which is headed by the Finance Minister.