Pawan Goenka : AutoMobile industry to be benefited from GST

New Delhi, July 7: The new indirect tax regime rolled out in India is gaining a lot of praises from Industry. Mahindra and Mahindra Managing Director Pawan Goenka has praised the Modi government for implementing GST. He has held a press conference yesterday. Some of the highlights of his speech are

* GST will boost AutoMobile Industry in upcoming months.

* The transition to GST by all stakeholders has been "surprisingly smooth".

* The Hybrid car sector would take a hit with higher tax rates under the new tax regime.

* All companies are playing fairly by reducing the cost of the vehicles post-GST regime.

Finally, he said that the growth in the auto industry would depend on other factors such as

# Interest rates on vehicle loans
# Overall economy
# Good monsoon.