Open AccessEffects of GST on Automobile Dealers Industry
Author(s) -
Namita Agrawal
Publication year - 2021
Publication title -
international journal for research in applied science and engineering technology
Language(s) - English
Resource type - Journals
ISSN - 2321-9653
DOI - 10.22214/ijraset.2021.39179
Subject(s) - automotive industry , original equipment manufacturer , business , government (linguistics) , commerce , engineering , linguistics , philosophy , computer science , aerospace engineering , operating system
India has applied for GST for their taxation system which has already been applied by more than 160 Nations worldwide. GST has changed India’s perception in front of policy makers of other countries, global investors including big automobile companies. The growth of automobile sector has clear correlation with the policy reforms as it affects domestic demand pattern as well as trade balance. The automobile industry in India is the most booming industry from last many years. India has become the fourth substantial automobile market in 2019 with increasing sales by 8.3% to 3.99 million units. It was the seventh substantial automobile manufacturer in 2018. The government of India has also known the importance of automobile industry. India has imposed a flare of hope by determined growth targets, supported by many of vital undertaking such as Digital India and the make in India campaigns. There are many changes made ensuring simplicity in the GST tax system. The purpose of the study is to understand the impact of these changes by Automobile Manufacturers (OEMs). Keywords: GST, Taxation, Commercial vehicle, automobile manufacturer.