Re: Budget 2015 & Indian Cars: All you need to know Quote:
Originally Posted by GTO
• The basic excise duty on small cars (hatchbacks & sub-4 meter sedans) goes up marginally from 12.36% - 12.5%. Honestly, this won't have any negative impact at all. |
This is done only for the sole benefit of the government.Even if the % seems less, this is a very high volume segment. Quote:
Originally Posted by GTO • A minuscule token amount of Rs. 75 crore has been allocated to boost the Electric Vehicle sector. |
This is really pathetic. Government should support more so that we encourage EV manufacturers to enter India. Oil prices will rise and we will be in trouble if we still depend solely on IC engines. Quote:
Originally Posted by GTO
• The tyre industry has been asking the government to abolish the silly 'inverted duty structure' since ages, and I agree with them. Sadly, nothing in the budget for tyres either. Things are rather ironic as they stand today. Tyres are easily imported into the country as the applicable customs duty they carry is 10% (or less, due to trade agreements with some countries). On the other hand, natural rubber (a crucial raw material) is levied an import duty of 20%! The Government needs to reduce the import duty on natural rubber, and subsequently increase the same on tyres!
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The government should probably increase the tax on importing tyres but they definitely should not reduce the tax on importing natural rubber as it is readily available in the country and it's affecting the local rubber prices due to heavy imports. Quote:
Originally Posted by GTO
• On the day of the budget, the prices of petrol & diesel went up by 3 bucks a liter.
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This was due to the increase in international crude oil prices , don't think it was due to the budget. Quote:
Originally Posted by GTO • GST (Goods & Service Tax) will finally roll out in April 2016. It will be a game-changer. A simplified, reduced tax structure will help the new car market. |
We are not sure if they will necessarily reduce tax here , so this can't be counted as good news yet. Quote:
Originally Posted by GTO • An additional 70,000 crore rupees for the infrastructure sector! Commercial vehicle manufacturers have a lot to look forward to.
• 1 lakh kms of new roads will be developed across India, over and above the completion of roads currently undergoing work.
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Eager to see how well they utilize this money and build new roads. Quote:
Originally Posted by GTO • The excise duty on ambulance chassis has been slashed from 24% to 12.5%. |
Great news. But which manufacturers actually build ambulances in the country other than Maruti ( Omini )? |