Honda Calls for Tax Cuts: Making Two-Wheelers Affordable for All in India

Honda Motorcycle and Scooter India (HMSI) has reiterated that two-wheelers are essential for the masses, not luxury items, and is advocating for a tax cut to stimulate demand. The company argues that the current 28% GST on two-wheelers is excessive and hinders affordability for middle-income consumers. HMSI officials emphasize that reducing taxes would not only make two-wheelers more accessible but also support the overall growth of the industry as it faces declining sales. This call for tax reform comes ahead of the upcoming Union Budget 2025, aiming to revitalize the sector amid economic challenges.
Source: Newsdrum, BeamStart, Devdiscourse