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PV export flat in 2017; pending GST refunds touch Rs 2,000 crore

Friday, January 12, 2018

India's passenger vehicle exports remained flat in 2017, plagued by issue of GST refund to automobile manufacturers which has touched Rs 2,000 cr since the implementation of the new tax regime. According to the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle (PV) exports stood at 7,38,894 units last year as against 7,38,137 units in 2016, a marginal growth of 0.1%. "The system of GST refund is not functioning and having an impact on exports of passenger vehicles. In Dec, we had a meeting of five-six top exporters and what we found was that the pending refund amount is around Rs 2,000 cr," SIAM Dy Director General Sugato Sen said.

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