Duty on Large Cars Increased from 22% to 24%

Large cars currently attract excise duty depending on their engine capacity and length.

While presenting the Union Budget 2012-13 in LokSabha today, the Finance Minister Shri Pranab Mukherjee proposed to enhance the duty from 22% to 24%. In the case of cars that attract a mixed rate of duty of 22% + Rs 15,000 per vehicle, he proposed to increase the duty and switch over to an ad valorem rate of 27%.

Source : Equity Bulls

Keywords