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Comprehensive GST relief across the automotive spectrum
The GST Council's 56th meeting will be remembered as a landmark event in India's tax reform journey. The decision to simplify the GST structure is a bold, proactive step toward a "Good and Simple Tax," and it is a testament to the government's trust in the industry to drive economic growth. The automotive sector, a critical pillar of our economy and a major employer is expected to be a key beneficiary of this reform. The rationalization of GST rates on vehicles and parts marks a significant and welcome reform for the automotive sector, making mobility more affordable, resolving long standing classification disputes, and easing the burden of cess.