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Ashok Leyland Hopes for Roll-out of GST Bill in 2016 Budget Session

Published On Feb 23, 2016By Prashant Talreja

With 2016 budget expected to be turbulent, possibility of introduction GST Bill in the parliament budget session seems dim. However, the Indian automotive brand Ashok Leyland foresees the passage of much awaited bill in this current budget session. Also, it hopes that the 2016 Parliament session will lay out guidelines of new tax norms for ease of investment drive into the infrastructure sector. The company also expects special incentives for R&D programs of automobile companies and financial aid for the public transportation sector under the 'Smart Cities' initiative.

Vinod Dasari, the managing director of Hinduja Group flagship, has said in a press release that the government would take appropriate steps towards reducing the corporate tax tariff as mentioned in the budget speech the previous year. He said, “One legislation that the entire industry is eagerly awaiting is the GST. This would be a game-changer for the economy and provide a strong impetus for growth. We hope that the budget speech can chart out a clear implementation of road-map, which will enable companies to re-design internal systems/processes and adapt their supply chain logistics.”

Indian industry, irrespective of SMEs and large commercial entities are hopeful for the passage of the crucial bill that would drive the economy towards growth. Various companies across the country are looking towards the government for a transparent tax norms that would ultimately spur investment in various sectors. However, with opposition parties gearing-up to corner the government over JNU issue, uncertainty looms over the budget session.

With absolute majority in Lok Sabha, BJP government had managed to pass the GST (Goods and Service Tax) Bill in the lower house on 6th of May 2015, but failed to get clearance of the upper house, Rajya Sabha.

See Also:

Ashok Leyland Shares Rebound from Initial losses, End 3.03 Percent High

Rocky JV between Nissan and Ashok Leyland to Come to an End

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