GST cut on tractors to boost sales in 2HFY12
1/17/2012 3:47:20 PM
Imposition of 16 percent general sales tax on tractors led to a sharp decline in sales by 61 percent YoY to 12,665 units. When top line is down, everything seems in doldrums.
The repercussions were witnessed on Millat Tractors Limited (MTL) as well whose scrip’s value showed a massive decline of 22 percent during the ongoing financial year.
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