 "car sales")
An unprecedented GST rate cut and the beginning of Navratra shored up car sales considerably, but passenger vehicle dealerships were grappling with a staggering loss of around ₹2500 crore due to scrapping of compensation cess -- which they have already paid-- and they have written to the original equipment makers (OEMs) to find a way out, an industry source said.
“Fresh calculations show that the cess amount which has now gone void from September 22 is around ₹2500 crore. Roughly, this would work out to around ₹3-5 crore per dealer,” he said, adding that dealerships are now waiting for the
