June
13
/ 2024
On June 12, International Road Federation (IRF) on Wedensday urged the Goods and Services Tax (GST) Council and the Ministry of Finance to reduce tax on helmets from 18 percent to nil, to encourage the use of the safety gear.
IRF in a statement said that the two-wheeler riders are most vululnerable during road accident fatalities and lowering GST rates on helmets will help in making helmets more affordable.
Meanwhile, IRF said that the India accounts for about 12 percent of road accident deaths worldwide and the econmoic loss is about USD 15071-38.81 bilion to the Indian Econmoy.
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