Please Tell Us Your City

Knowing your city will help us provide relevant content to you.

Sorry! No matching results found. Try again.Error Identifying Your Location.

Log in to CarWale

Please enter your password
Forgot password?
Please enter your registered email

Or Login with

Sign in with facebook
Sign In with google

Sign up to CarWale

Please enter your name
+91
Please enter your mobile number
Please enter your password
Please enter your password
Ad

Government may extend the excise duty cut beyond December 31

November 28, 2014, 12:12 PM IST by Pratheek Kunder
Government may extend the excise duty cut beyond December 31

The Finance Ministry has been discussing internally, the extension of the excise duty cut for cars beyond December 31. Earlier, the decision was taken when  the automobile industry was still struggling  with slow demand due to high interest rates. However, the government is yet to announce this extension officially.

During the Interim Budget in February, the government had reduced the excise duty for cars, SUVs and even two-wheelers till June 30. Once the new government took the duties, they decided to extend the duty cut by more six months which will end in December 31.

"We were expecting this to happen because the government is very conscious of the need to expand manufacturing and they have realised that the car industry has not been performing as good as it was hoped for. At this point, if the excise duty goes up, it could easily push the car industry into the negative territory. So, what they have done is that they are consistent with their approach towards industrial manufacturing,." said RC Bhargava, chairman, Maruti Suzuki.

As per SIAM, India’s car sales might fall below the earlier target for 2015 financial year. Sales in October fell 7.5 per cent to 2,21,151 units, after growing for six consecutive months. We strongly feel the government will provide an extension because the new government is focusing a lot on the manufacturing industry through its “Make in India” campaign. And, the  auto industry is one of the highest contributors to India’s GDP.

 

Show CommentsHide Comments
Ad
  • Upcoming Cars

Mahindra e20 NXTMahindra e20 NXT

Jul 2019

6L - ₹ 8L
Mahindra eKUV100Mahindra eKUV100

Dec 2019

8L - ₹ 9L
Jeep RenegadeJeep Renegade

Jan 2020

12L - ₹ 17L
BMW New X5BMW New X5

Apr 2019

70L - ₹ 90L
Mercedes-Benz GLE NewMercedes-Benz GLE New

May 2019

65L - ₹ 80L
All Upcoming Cars
Ask the experts1800 2090 230Mon-Fri (9 AM - 8 PM)
Sat (9 AM - 5:30 PM)
Sun (9 AM - 7 PM)
Toll free

Select your city to avail offers

Currently available only in