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Auto dealers want excise duty cut to 16%
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Mr S. Sandilya (left), Chairman & Chief Executive, Eicher Group, with Mr Deshnidhi Kasliwal, President, Federation of Auto Dealers' Association, at the annual session of the association in the Capital on Thursday. - Ramesh Sharma
New Delhi
,
Sept. 2
AUTOMOBILE dealers on Thursday demanded an 8 percentage point cut in excise duty on cars from the current 24 per cent and also expressed concern over bringing them under the service tax net.
The duty cut would not only benefit the automobile industry, but would also give a boost to manufacturing as a whole, whereas, the service tax would be harmful for dealers, Mr Deshnidhi Kasliwal, outgoing President of Federation of Automobile Dealers' Associations (FADA), said here.
The best way to address impediments in the growth is to cut the excise duty from 24 per cent to 16 per cent on cars to bring it at par with other vehicles, he added . On the service tax, he said the cascading effect of the new tax would be detrimental for the industry.
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