Tax exemption for budget SUVs?

M35 · 8th April 2013, 19:04

Tax exemption for budget SUVs?

If you are planning to buy a sports utility vehicle (SUV), it might be advantageous to wait for a few days. Finance Minister may amend proposal to raise excise duty as per The Hindu Business Line.

According to the article, the Government may modify its proposal to increase the tax on such vehicles, introduced in the Budget for 2013-14. Even the Heavy Industry Ministry had pitched in, suggesting that a threshold limit be introduced, so that budget utility vehicles are not taxed at the same rate as luxury SUVs.

Threshold of value means a model priced below a certain level will not attract the additional three per cent duty.

Related news:Exempt SUVs below Rs 10 lakh from tax: Heavy Industries and Public Enterprises Minister Praful Patel.

Bringing such a threshold may benefit SUVs such as Mahindra Scorpio, Mahindra Bolero,Tata Sumo and Tata Safari.

source:thehindubusinessline

8th April 2013, 19:04	#1
M35 BHPian Join Date: Dec 2012 Location: COK-PKD-SZX Posts: 870 Thanked: 2,747 Times	Tax exemption for budget SUVs? Tax exemption for budget SUVs? If you are planning to buy a sports utility vehicle (SUV), it might be advantageous to wait for a few days. Finance Minister may amend proposal to raise excise duty as per The Hindu Business Line. According to the article, the Government may modify its proposal to increase the tax on such vehicles, introduced in the Budget for 2013-14. Even the Heavy Industry Ministry had pitched in, suggesting that a threshold limit be introduced, so that budget utility vehicles are not taxed at the same rate as luxury SUVs. Threshold of value means a model priced below a certain level will not attract the additional three per cent duty. Related news:Exempt SUVs below Rs 10 lakh from tax: Heavy Industries and Public Enterprises Minister Praful Patel. Bringing such a threshold may benefit SUVs such as Mahindra Scorpio, Mahindra Bolero,Tata Sumo and Tata Safari. source:thehindubusinessline Last edited by M35 : 8th April 2013 at 19:18.
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