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Automobiles

Indian automakers call for tax cuts as sales slump continues

Passenger vehicle sales drop more than 30% last month

MUMBAI (NewsRise) -- India's automobile industry has raised the pitch for an immediate tax cut to help spur demand after a slump in sales in August at Maruti Suzuki and Tata Motors.

The Society of Indian Automobile Manufacturers, or SIAM, on Monday urged the government to consider reducing the Goods and Services Tax rate on vehicles to 18% from 28% as the industry reels under a prolonged slowdown.

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