/ Auto Industry Sends GST Note To Finance Ministry ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 17 July 2017

Nifty Auto index was trading at 10,935 level, up by 43 points or 0.4%. M&M was holding its morning gains and was trading at Rs 1,396.7 per share, up by Rs 21.15 per share, up by 1.54%. The stock was the top gainer among auto stocks.

As per the reports by leading media channels, the auto industry has sent a detailed GST note to Finance Ministry. Auto sector will face severe financial burden without full refund on CGST. Auto industry seeks 18% GST rate on hybrid electric cars from the existing 28% tax rate.

Other auto stocks like Tata Motors, Amara Raja Batteries, Ashok Leyland and Eicher Motors were trading in the positive territory higher by up to 1%. Meanwhile, Nifty was trading at 9,909 level, up by 23 points and Sensex was trading at 32,087 level, up by 66 points as of 1133 hours on Monday.

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