Comments
NEW DELHI, JAN 11: Ahead of the Budget, Society of Indian Automobile Manufacturers on Tuesday asked the government to retain excise duty on small cars at the current level of 10 per cent even though the industry witnessed good growth this fiscal.
“The automobile industry contributed 86 per cent more excise (to the government) than last year, accounting 26 per cent of the overall excise kitty and there is no need to roll back to the levels of the pre-stimulus package days,” said Mr Pawan Goenka, President, Society of Indian Automobile Manufacturers.
As part of the stimulus package the government the small cars had enjoyed a reduction in excise duty to 8 per cent from 12 per cent earlier. It was later increased to 10 per cent in last year’s Budget. Big cars, sports-utility vehicles and multi- utility vehicles currently attract 22 per cent excise duty.
“Any change in excise, whether an increase or decrease will be passed on to the consumers. Let it remain at 10 per cent and not increase to 12 per cent that was prevailing at the pre-stimulus package days,” said Mr Goenka.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.