Synopsis
The cess is being abolished, but dealers have already paid it on their existing inventory. Recovering this cess looks bleak, leaving automakers and dealers scrambling.
What should have been a celebratory moment for the auto industry has instead triggered a short-term disruption with potential losses running into thousands of crores. The abolition of the Goods and Services Tax (GST) Compensation Cess from September 22 is being hailed as a long-term positive for demand and profitability in the automobile sector. However, the immediate fallout is far from smooth. Dealers have already paid the cess on existing
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