Govt to propose reducing GST rate on automobiles: Sitharaman

Finance Minister Nirmala Sitharaman said the government will take the proposal to cut Goods and Services Tax (GST) rate on automobiles to the GST Council. Currently, automobiles come under the highest GST slab of 28%. This comes amid an automotive market slowdown with automakers like Maruti Suzuki India, Mahindra & Mahindra and Tata Motors reporting double-digit slump in August sales.