Monday, 29 May 2017

28% GST on tractor parts to hurt companies, farmers >> Free Stock Cash Tips- 9644405056 (One Missed Call)

Sonalika International Tractors opposed the 28 per cent levy on tractor parts proposed under the Goods and Services Tax (GST) structure, saying it will hurt the sector and also farmers. The tractor manufacturer said the tax on tractor parts should remain at the existing level of 14 per cent.

"The government has proposed to raise GST on tractor and car parts to 28 per cent while at present it is 14 per cent. This will result in an increase in cost of tractors and would adversely impact farmers in a major way," Sonalika International Tractors Vice-President (Sales and Marketing) Munish Kumar told.

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