2% Excise cut announced today

joslicx · 24th February 2009, 20:16

There is a news article on rediff that says govt has reduced general excise duty by a further 2% (in addition to 4% announced last december). Does it mean cars to become cheaper still ? Anybody got any further news on this?

ms001 · 24th February 2009, 20:17

http://www.team-bhp.com/forum/shifti...t-economy.html

vasudeva · 24th February 2009, 20:18

Yes definitely. See this official PR from Finance Ministry:

PIB Press Release

General reduction in Excise Duty rates by 4 per cent points was made with effect from 7.12.2008. It is now being extended beyond 31 March, 2009. In addition, it has now been decided to:

• reduce the general rate of Central Excise duty from 10 per cent to 8 per cent.

• retain the rate of central excise duty on goods currently attracting ad valorem rates of 8 per cent and 4 per cent respectively;

SkyWalker · 24th February 2009, 20:29

wow. this is great news for buyers. So any manufacturers have announced cuts in prices yet?

khan_sultan · 24th February 2009, 20:30

As mentioned by ms001, thread already exists for this. Please continue the discussion there.

Thread closed.

24th February 2009, 20:16	#1
joslicx Senior - BHPian Join Date: Dec 2006 Location: Bangalore Posts: 1,287 Thanked: 1,015 Times	2% Excise cut announced today There is a news article on rediff that says govt has reduced general excise duty by a further 2% (in addition to 4% announced last december). Does it mean cars to become cheaper still ? Anybody got any further news on this?
	() Thanks

24th February 2009, 20:17	#2
ms001 Senior - BHPian Join Date: Jun 2008 Location: bangalore Posts: 1,008 Thanked: 174 Times	thread already exists http://www.team-bhp.com/forum/shifti...t-economy.html
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24th February 2009, 20:18	#3
vasudeva Senior - BHPian Join Date: Mar 2007 Location: Delhi Posts: 2,223 Thanked: 212 Times	Yes definitely. See this official PR from Finance Ministry: PIB Press Release General reduction in Excise Duty rates by 4 per cent points was made with effect from 7.12.2008. It is now being extended beyond 31 March, 2009. In addition, it has now been decided to: • reduce the general rate of Central Excise duty from 10 per cent to 8 per cent. • retain the rate of central excise duty on goods currently attracting ad valorem rates of 8 per cent and 4 per cent respectively;
	() Thanks

24th February 2009, 20:29	#4
SkyWalker Senior - BHPian Join Date: Jul 2006 Location: Bangalore Posts: 1,531 Thanked: 136 Times	wow. this is great news for buyers. So any manufacturers have announced cuts in prices yet?
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24th February 2009, 20:30	#5
khan_sultan Distinguished - BHPian Join Date: Apr 2006 Location: Noida/Bangalore Posts: 4,932 Thanked: 5,894 Times View My Garage	As mentioned by ms001, thread already exists for this. Please continue the discussion there. Thread closed.
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