Thinking Of Buying Bike- Scooty? Know This Important News Before Budget 2022-23

The budget of the country (Budget 2022) is about to come. Every small and big businessman expects relief for himself from the government in the budget. People suffering from Corona’s beating want convenience and concessions in the budget. The two-wheeler industry is also waiting for something similar. That is to say, if the central government accepts the demand of Federation of Automobile Dealers Association (FADA), then after the budget, the prices of two wheelers can come down. 

Need to reduce GST rates: FADA

Auto dealers organization FADA has demanded reduction of GST rates on two wheeler from 28 per cent to 18 per cent, so that demand can increase. FADA said that two-wheeler is not a luxury product. Hence there is a need for reduction in GST rates.

Eyes on February 1

Finance Minister Nirmala Sitharaman will present the Union Budget for the financial year 2022-23 in Parliament on February 1. Earlier, FADA has requested the Finance Ministry to reduce the GST rates on two-wheelers to 18 percent.