NEW DELHI: Maruti chairman RC Bhargava on Thursday said that the auto industry doesn’t require a GST rate cut at this point in time. The statement is in direct contrast to the tax-reduction demand made by the
broader industry
as well as industry body Siam, which is headed by Maruti MD Kenichi Ayukawa.
Bhargava said that while the industry is under stress due to the
pandemic
, sales have done “pretty well” in the second quarter (July-September), adding, “I don’t think anyone’s sales have suffered due to lack of demand.”
“Giving (GST) relief at this stage would be quite unnecessary. In case the demand actually comes down, and the fall is not temporary but rather a sustained one, then (it may be required),” Bhargava said, when asked by TOI on whether there is a need for an urgent rate cut. “There is no immediate need. Today, I am selling everything.”
Surprisingly, Bhargava’s views are diametrically opposite to the views of Ayukawa, who had pressed for a GST rate cut at the Siam annual event last month.
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