Companies

Excise relief for auto cos may be extended

Reuters New Delhi | Updated on November 27, 2014 Published on November 27, 2014

India may extend excise duty concessions for carmakers beyond December 31, a finance ministry source said on Thursday, as the industry continues to struggle with sluggish demand due to high interest rates.

"Car sales are down. The government could extend tax relief to the auto sector beyond December. 31," the source said on condition of anonymity.

The excise duty concessions, which were granted in February this year, will lapse on Dec. 31, if not extended.

Published on November 27, 2014
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