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 google

Sign up to CarWale

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

Union Budget: Automobile dealers demand cut in excise duty and more tax sops

June 10, 2014, 08:03 AM IST by Pratheek Kunder
Union Budget: Automobile dealers demand cut in excise duty and more tax sops

Automobile dealers across the country are dealing with decline in sales and negative customer sentiments, which have been affecting their overall business. In order to sustain their business, the Federation of Automobile Dealers Association(FADA) has asked the government to help them with tax sops in the upcoming union budget. 

The federation primarily wants that the cut in excise duty on passenger vehicles in the Interim Budget should be retained in the upcoming regular Union Budget. In the pre-budget expectations submitted to Finance Minister Arun Jaitley last week, the federation wants all passenger cars irrespective of fuel, engine capacity and size to attract the same rate-12 per cent of excise duty. FADA also sought some other tax sops such as increasing depreciation allowance on passenger vehicles across segments to 33 per cent citing shortening of ownership cycle and crashing of used vehicle prices.

FADA also sought accelerated depreciation allowance of 60 per cent for the purchase of commercial vehicles for a period of two years in the Union Budget, on the lines of the one provided in 2008 following global financial crisis. In addition, depreciation allowance on commercial vehicles purchased for replacement of over 15-year old vehicles be increased to 60 per cent to incentivise renewal and modernisation of transport fleet and sustain growth, the representation said. Apart from the abolition of local body tax including Octroi, it has also demanded a roadmap for the implementation of general sales tax.

 
Show CommentsHide Comments
Ad
  • Upcoming Cars

MG HectorMG Hector

27th Jun 2019

18L - ₹ 23L
Hyundai Kona EVHyundai Kona EV

9th Jul 2019

25L - ₹ 30L
BMW X7BMW X7

25th Jul 2019

80L - ₹ 1.20Cr
BMW 7 Series FaceliftBMW 7 Series Facelift

25th Jul 2019

1.22Cr - ₹ 1.40Cr
Renault TriberRenault Triber

Aug 2019

5L - ₹ 7L
All Upcoming Cars
Ad
MG Hector

Price Reveal In:

  • 00DAYS
  • 00HRS
  • 00MINS
Know More

Select your city to avail offers

Currently available only in