GST to provide $39bn auto ancillary industry fuel for growth

The $39 billion auto ancillary industry which complements the  OEMs  will be benefited from the  GST regime . The current effective rate of tax for auto ancillary industry is between at 28 to 30% but this will come down to 18% after the  GST  implementation. "Many auto component manufacturers usually set up their units closer to the OEM facilities just to avoid VAT credit…