Historic GST Cuts Propel LCV Sales Surge
Lowering GST rates is anticipated to boost light commercial vehicle sales by 25-30% during the festive season, according to Ashok Leyland. This shift, part of a major tax reform, promises increased consumption and operational expansion in central India.
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A significant cut in Goods and Services Tax (GST) rates from Monday is projected to cause a substantial increase in the sales of light commercial vehicles (LCVs) by 25 to 30 percent this festive season, according to information from Ashok Leyland.
During a press briefing, Viplav Shah, head of the LCV business at Hinduja Group's Ashok Leyland, described the GST rate reduction as a landmark tax reform. He indicated the changes are expected to spur LCV sales substantially between September and October, compared to the previous year.
The transition to a simplified two-slab GST system is intended to drive consumption, with reductions extending to common goods and vehicles. Ashok Leyland is also set to enhance its service operation footprint in central India, aiming for a service point every 25 kilometers within the upcoming year.
(With inputs from agencies.)
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