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Old 24th February 2009, 20:16   #1
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Default 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?
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Old 24th February 2009, 20:17   #2
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Default thread already exists

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Old 24th February 2009, 20:18   #3
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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;
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Old 24th February 2009, 20:29   #4
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wow. this is great news for buyers. So any manufacturers have announced cuts in prices yet?
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Old 24th February 2009, 20:30   #5
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As mentioned by ms001, thread already exists for this. Please continue the discussion there.

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