Indian Auto Industry is one of the most critical drivers of economic growth in the country, supporting a vast supply chain and generating significant employment. At present, around 30 million jobs (Direct: 4.2 million and Indirect: 26.5 million) are supported by the Indian Auto Industry. The Indian auto industry contributes about 6.8% in the National GDP and about 40% in the manufacturing GDP of the country. The industry also contributed to the GST Revenue of the government of about Rs. 2.93 lakh crores in FY 2023-24, which is about 14% of the total GST contribution to the exchequer.
In order to discuss various procedural and operational taxation issues of the Auto Industry, SIAM is organizing the 1st edition of Automotive Conference on Taxation.
The programme is expected to bring together senior officials from Government of India, Automotive Tax Experts, and senior Automotive Industry leaders.