In a very surprising move by the government, the excise duty benefits which had so far been making your automobiles cheaper will be revoked from January 1, 2015. Introduced originally by the Manmohan Singh government towards the end of their tenure, the reduced excise duties provided that much needed push to the automobile sector.
Excise Duty
Do you Know: Petrol & Diesel Prices Should Have Fallen Further BUT…
The new government has been widely cherished by the general public for taking proactive steps to control price rise. If we talk about the price of petrol and diesel, which is the lifeline of the automotive industry, it has been steadily controlled. In fact, the government even took the bold step of deregulating the price of diesel.
REJOICE! Excise Duty Benefits for Cars & Motorcycles to Continue till March 2015
The Indian automotive industry was going through some of its worst days in the last few months. Whenever there is a crash in the economy of a country, the first sector to be affected is the automotive sector, unfortunately, the last sector to get revived is also the same.
Budget 2014: Excise Duties Cut; Cars, SUVs to Become Cheaper; SIAM Welcomes the Move
The interim budget for 2014 has a goodie qualified to delight the heart of petrol heads in general and the auto industry in particular. The FM armed, obviously, with the patronage of his party proposed a reduction on the excise duty on cars and bikes.
Finally Sense Prevails: Sedans Will Remain Sedans!
A few months back, a new excise duty ruling created a lot of flutter as well as confusion among the car manufacturers. It directly targeted SUVs and slapped an extra 3% of excise duty for them being a more apt vehicles on Indian roads.