Tuesday, December 30, 2014

GOVT WITHDRAWS EXCISE DUTY CONCESSIONS ON AUTO SEGMENT, CONSUMER DURABLES

The government has decided to withdraw the excise duty concessions on the auto sector and consumer durables.

Excise duty on small cars, scooters, motorcycles and commercial vehicles was reduced to 8 per cent from 12 per cent previously. For SUVs, it was cut to 24 per cent from 30 per cent; for mid-sized cars, to 20 per cent from 24 per cent and to 24 per cent for large cars, from 27 per cent.

In the consumer durables sector the excise was reduced to 10 per cent from 12 per cent.
From Jan 2015, old rates will be levied.


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