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The govt on Friday moved to cushion key industries from the ongoing gas supply disruption, boosting commercial LPG allocations by 20% to reach 70% of pre-crisis levels. The extra supply will prioritise labour-intensive sectors such as steel, automobiles, textiles, dyes, chemicals, and plastics, which are critical for broader economic activity.The move is aimed at stabilising…
Car Repairs Delayed? Oman Now Forces Insurers to Pay You Cash for Every Extra Day In a significant shake-up of Oman’s motor insurance landscape, the Financial Services Authority (FSA) has introduced sweeping reforms that now mandate compensation from insurers if car repairs aren’t completed on time, a first in the Gulf region and a major…
China has granted exemptions to export controls on Nexperia chips for civilian applications, its commerce ministry said on Sunday, signalling a potential easing of pressure on the global auto industry hit by supply shortages following earlier curbs, Reuters reported.The announcement marks Beijing’s strongest indication yet that it will relax restrictions imposed after the Dutch government…
NEW DELHI: Car dealers are looking at options to set off the impact of withdrawal of GST compensation cess on their bottomlines, with some of them contemplating legal challenge to the move.While restructuring GST, the GST Council decided to increase the rate from 28% to 40% but withdrew the cess on cars that ranged from…
Two-wheeler sales are expected to grow by 5-6 per cent this fiscal, aided by the GST Council’s recent tax rationalisation, according to a report by Crisil Ratings. Passenger vehicles (PVs) are forecast to see a modest 2-3 per cent rise.As per news agency ANI, Crisil said the rate reduction would lift demand in the auto…
