India proposes lowering GST on small cars, insurance premiums, source says

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India considers reducing the Goods and Services Tax on small cars to 18%. The government may also lower GST on health and life insurance premiums. These tax cuts could be announced by Diwali. Maruti Suzuki, Hyundai Motor India, and Tata Motors may benefit. Automaker and insurance stocks rose following the news.

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India proposes lowering GST on small cars, insurance premiums, source says

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