New Delhi sources have stated that the Revenue Department had clarified that sale of old jewelry as well as old vehicles by individuals will not attract any GST as the sale is not for furthering any business. Meanwhile when clarifying on Revenue Secretary Hasmukh Adhia's comments yesterday stating that it was informed at GST
Sources have stated that at the 22nd World Petroleum Congress in Istanbul, Turkey, oil & gas industry stares at a dark future. And the reason is not just low price of crude oil, which is currently trading at nearly $45 a barrel, less than a third of the price 10 years ago $145 in 2008.
New Delhi sources have stated that the cheer that goods and service tax has brought to the automotive market has diminished, with concerns mounting over the risk of states raising road tax to offset revenue loss and was added that Maharashtra has already decided to increase the levy on vehicles by 2% to compensate for the absence of octroi, a state tax which has now been merged with GST.
New Delhi sources have stated that the Indian arm of Japanese car maker, Honda Cars India will for the first time commence exports of the fully assembled 1.6L diesel engine from its Tapukara plant in Rajasthan. Exports start from July this year.
New Delhi sources have reported that Volkswagen Polo been one the most successful models for the company globally ever since it was first introduced in 1975. We have seen five different generations of the hatchback living up to the expectations of its respective predecessor and the new sixth generation of Volkswagen Polo will make its global debut on 16th June 2017.
New Delhi sources have stated that the country's Finance Minister Arun Jaitley hinted that the tax rate on hybrid card will not be reviewed, saying the industry demands were not in sync with a study conducted by tax officers.
New Delhi sources have stated that to ensure smooth roll out of Goods and Service Tax, the Central Government has abolished cesses on goods and services included in the last three General Budgets viz 2015-16, 2016-17 and 2017-18, and starting from July 1, 2017 with GST in place the government will also abolish cess on automobiles.
Mumbai sources have stated that Tata Motors, which is India's largest truck maker announced on Monday the departure of Ravindra Pisharody, the executive director-in-charge of the flagging commercial vehicle business, even as it promoted Satish Borwankar, a veteran in the company as its chief operating officer.
Sources have stated that the latest vehicles crash tested by European New Car Assessment Program or Euro NCAP includes new products like Skoda Kodiaq SUV, New generation Suzuki Swift, new Nissan Micra and Mini Countryman. Most of these cars faired well and the crash test results are not disappointing.
New Delhi sources have stated that Country's second largest two-wheeler maker Honda Motorcycle and Scooter India commuter segment motorcycle CB Shine has surpassed the Hero Passion for the first time. HMSI sold 1,00,824 units of CB Shine making it the fourth largest selling motorcycle in the month of April 2017 growing at a whopping 51.18% when compared to 66,691 units in the same month last year.
New Delhi sources have stated that Electric vehicle division of Mahindra & Mahindra, Mahindra Electric has revealed its future electric vehicle strategy including product roadmap and future technology, leading to the next generation of Electric Vehicles, which the company internally refers to as EV 2.0.
Sources have stated that in a world where major automakers are losing their minds about the potential of the fast-growing Indian market, it's a refreshing change when a big player puts on its green eye-shades to take the contrarian view and that's the approach of General Motors Co., whose Chief Executive Officer Mary Barra is scrapping a $1 billion investment in India and halting sales of Chevrolet models there altogether.
New Delhi sources have stated that senior officials of General Motors, from Detroit and regional office in Singapore are here in India to finalize the India action plan. These officials reached on Tuesday (May 16) and since then they have been deliberating on the situation and options for the company. The American car-maker is likely to announce the next course of action for GM in India on Thursday (May 18).
New Delhi sources have stated that India's largest car maker, Maruti Suzuki has catapulted the new generation of Maruti Suzuki Dzire and for the first time the car will be sold without the Swift badge. The petrol variants of the cars are priced at 5.45-8.41 lakh (Ex-showroom Delhi) and the diesel variants range from Rs 6.45-9.41 lakh (Ex-showroom Delhi).
As per latest report from sources it was stated that The Honda Africa Twin has finally arrived in India! The much-awaited adventure tourer comes to India with a price tag of Rs 12.90 lakhs (ex-showroom Delhi) and will take the CKD route with assembly in India.