14 Jun 08 Additional Excise Duty on Large Cars levied
In a move which has taken everyone by suprise, the Indian Central Government has increased additional excise duty on large cars, MUV’s and SUV’s. For cars having a engine capacity of 1500 cc to 1999 cc, the additional excise duty payable would be Rs. 15,000 while for cars having an engine capacity of over 2000 cc, the additional excise duty payable would be Rs. 20,000. There has however been no increase in the excise duty for cars with an engine capacity of less than 1500 cc. It would be interesting to look at the movements of the share prices of the Indian automobile majors, when the stock markets open for trading coming Monday.
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