Automobile companies, who were banking on a Goods & Service Tax (GST) cut to bail them out from the slowdown that has gripped the sector, are likely to be disappointed as the Centre may dash their hopes after evaluating their snail-paced compliance to Bharat Stage-VI roll out, reports The Times of India.
The GST Council is unlikely to ease rates as it faces revenue deficits and given that such a step would also require states’ approval, the report added.