Budget 2010 : Petro products by Re 1 & Cars to be 2% expensive,

.anshuman · 26th February 2010, 14:40

Petrol and Diesel prices are going up after midnight today by Rs.2.67 and 2.58 respectively(Delhi).

shishir_bn · 26th February 2010, 16:23

Maruti-Hyundai-to-hike-car-prices by 6000/- to 25000/- and Toyota by 15000/-

Source :: Maruti, Hyundai to hike car prices- Automobiles-Auto-News By Industry-News-The Economic Times

vasudeva · 26th February 2010, 16:25

The excise duty hike (or reduction) is always with immediate effect, as is the fuel price hike.

vasoo · 26th February 2010, 16:38

I have booked a new car and is expected to be delivered next week. I wonder if I will have to pay the new price. I am sure the price will go up at least by 15k.

neoonwheels · 26th February 2010, 16:45

Quote:

Originally Posted by vasoo

I have booked a new car and is expected to be delivered next week. I wonder if I will have to pay the new price. I am sure the price will go up at least by 15k.

If the car is invoiced (Full payment and all) in your name, you dont have to pay the extra amount. If it is not yet invoiced then you have to pay the difference amount as well.

Daewood · 26th February 2010, 16:48

the excise duty on small cars is still the same.
only cars above 4m in length and above 1200cc for petrol and 1500cc for diesel will go up by 2 percent.

Remember that the excise duty was reduced from 12% to 8% for small cars and from 24% to 20% as part of the stimulus package for the auto industry in late 2008

neoonwheels · 26th February 2010, 16:51

Quote:

Originally Posted by Daewood

the excise duty on small cars is still the same.
only cars above 4m in length and above 1200cc for petrol and 1500cc for diesel will go up by 2 percent.

Remember that the excise duty was reduced from 12% to 8% for small cars and from 24% to 20% as part of the stimulus package for the auto industry in late 2008

Some portals mentioned the duty will be up by 2% and will be 10% now. So it seems small cars are also included in the raise.

vasudeva · 26th February 2010, 16:54

Before the budget, excise on petrol and diesel per litre was 14.35 and 4.60. Post budget, it is 15.50 and 5.75.

Can someone point out the justification behind a petrol automotive owner (from a 100 cc scooter to 800 to Corolla to even bigger cars) paying higher excise duty than a diesel automotive owner (trucks, etc but in particular all the luxury cars).

fusion123 · 26th February 2010, 16:55

Not too sure about this Daewood, because I just spoke to the sales guy from whom I purchased my Hyundai i20 last Thursday at Hyundai Motor Plaza, Delhi. He confirmed that the prices for all cars will go up, including the i20 for which the hike is abt 10000 roughly in Delhi. He said he would mail me the new price list by tomm. Lets wait n watch the impact.

Daewood · 26th February 2010, 17:33

this news report updated at 15:35 in ET says small cars are spared,
though earlier reports said all cars will see an increase in duty.

Union Budget 2010: Excise duty on large cars up two per cent, small cars spared- Union Budget-News-The Economic Times

even the official Indian Finance Ministry site talks only about the hike of 2% for big cars

http://indiabudget.nic.in/ub2010-11/bs/speecha.htm

car-dent · 26th February 2010, 17:43

does the excise duty hike affect CSD prices also?
what is exempted in CSD? sales tax / excise duty/both.

rjalihal · 26th February 2010, 18:05

All prices have increased. I need to ask boss for a raise now

And i know his reply!

rishab.k · 26th February 2010, 18:28

This is exactly what the Finance Minister said,

"Therefore, I propose to partially roll back the rate reduction in Central Excise duties and enhance the standard rate on all non-petroleum products from 8 per cent to 10 per cent ad valorem. The specific rates of duty applicable to portland cement and cement clinker are also being adjusted upwards proportionately. Similarly, the ad valorem component of excise duty on large cars, multi-utility vehicles and sports-utility vehicles which was reduced as part of the first stimulus package, is being increased by 2 percentage points to 22 per cent."

So, clearly that means all cars would attract an excise duty of 10 % & the ad valor em component of excise duty on large cars, MUVs & SUVs would be 22 %.

kavesh55 · 26th February 2010, 18:57

The government needs to finally work on an expense and not an income budget. An organisation, which the govt. is the biggest is expected to be efficient, reduce cost and add value. But its not happening.

They are implementing schemes which are just 20% efficient
Implemented the sixth pay commission but the govt. offices operate with the same efficiency
Inflation has gone through the roof, not to mention the quality in general because of this
How many PSUs are privatised and contribute in terms of increased profits.
An advanced country like the US too gives subsidies on fuel and tries to keep it low
Fuel price wil affect not only petrol heads like us but everyone and everything.

But we should not blame the government, we ought to be blamed. We again and again vote them to power.
Statistics show that whenever the congress govt. has come to power yes inflation has increased and quality of life decreased.

shibujp · 26th February 2010, 19:17

Quote:

Originally Posted by vasudeva

Before the budget, excise on petrol and diesel per litre was 14.35 and 4.60. Post budget, it is 15.50 and 5.75.

Can someone point out the justification behind a petrol automotive owner (from a 100 cc scooter to 800 to Corolla to even bigger cars) paying higher excise duty than a diesel automotive owner (trucks, etc but in particular all the luxury cars).

Well justified (i am a diesel swift owner) as long as you can suggest a method by which the govt can tax diesel car owners and not the trucks...

Quote:

Originally Posted by rjalihal

All prices have increased. I need to ask boss for a raise now

And i know his reply!

The boss might point to the revised tax slabs...

Drive on!!
Shibu.

26th February 2010, 14:40	#16
.anshuman Distinguished - BHPian Join Date: Dec 2004 Location: Good-Gaon Posts: 7,763 Thanked: 11,064 Times View My Garage	Petrol and Diesel prices are going up after midnight today by Rs.2.67 and 2.58 respectively(Delhi).
	() Thanks

26th February 2010, 16:23	#17
shishir_bn Senior - BHPian Join Date: Nov 2009 Location: Bangalore Posts: 1,195 Thanked: 120 Times	Maruti-Hyundai-to-hike-car-prices Maruti-Hyundai-to-hike-car-prices by 6000/- to 25000/- and Toyota by 15000/- Source :: Maruti, Hyundai to hike car prices- Automobiles-Auto-News By Industry-News-The Economic Times
	() Thanks

26th February 2010, 16:25	#18
vasudeva Senior - BHPian Join Date: Mar 2007 Location: Delhi Posts: 2,221 Thanked: 212 Times	The excise duty hike (or reduction) is always with immediate effect, as is the fuel price hike.
	() Thanks

26th February 2010, 16:38	#19
vasoo Senior - BHPian Join Date: Jul 2007 Location: Memphis TN Posts: 1,039 Thanked: 246 Times View My Garage	I have booked a new car and is expected to be delivered next week. I wonder if I will have to pay the new price. I am sure the price will go up at least by 15k.
	() Thanks

26th February 2010, 16:48	#21
Daewood BHPian Join Date: Dec 2009 Location: Chennai Posts: 940 Thanked: 234 Times	the excise duty on small cars is still the same. only cars above 4m in length and above 1200cc for petrol and 1500cc for diesel will go up by 2 percent. Remember that the excise duty was reduced from 12% to 8% for small cars and from 24% to 20% as part of the stimulus package for the auto industry in late 2008
	() Thanks

26th February 2010, 16:54	#23
vasudeva Senior - BHPian Join Date: Mar 2007 Location: Delhi Posts: 2,221 Thanked: 212 Times	Before the budget, excise on petrol and diesel per litre was 14.35 and 4.60. Post budget, it is 15.50 and 5.75. Can someone point out the justification behind a petrol automotive owner (from a 100 cc scooter to 800 to Corolla to even bigger cars) paying higher excise duty than a diesel automotive owner (trucks, etc but in particular all the luxury cars).
	() Thanks

26th February 2010, 16:55	#24
fusion123 Newbie Join Date: Feb 2006 Location: New Delhi Posts: 15 Thanked: 2 Times	Not too sure about this Daewood, because I just spoke to the sales guy from whom I purchased my Hyundai i20 last Thursday at Hyundai Motor Plaza, Delhi. He confirmed that the prices for all cars will go up, including the i20 for which the hike is abt 10000 roughly in Delhi. He said he would mail me the new price list by tomm. Lets wait n watch the impact.
	() Thanks

26th February 2010, 17:33	#25
Daewood BHPian Join Date: Dec 2009 Location: Chennai Posts: 940 Thanked: 234 Times	this news report updated at 15:35 in ET says small cars are spared, though earlier reports said all cars will see an increase in duty. Union Budget 2010: Excise duty on large cars up two per cent, small cars spared- Union Budget-News-The Economic Times even the official Indian Finance Ministry site talks only about the hike of 2% for big cars http://indiabudget.nic.in/ub2010-11/bs/speecha.htm Last edited by Daewood : 26th February 2010 at 17:50.
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26th February 2010, 17:43	#26
car-dent BHPian Join Date: Jan 2010 Location: NOIDA Posts: 284 Thanked: 469 Times	does the excise duty hike affect CSD prices also? what is exempted in CSD? sales tax / excise duty/both.
	() Thanks

26th February 2010, 18:05	#27
rjalihal BHPian Join Date: Dec 2008 Location: Bangalore Posts: 713 Thanked: 100 Times	All prices have increased. I need to ask boss for a raise now And i know his reply!
	() Thanks

26th February 2010, 18:28	#28
rishab.k BHPian Join Date: Jun 2009 Location: Lucknow Posts: 171 Thanked: 13 Times	This is exactly what the Finance Minister said, "Therefore, I propose to partially roll back the rate reduction in Central Excise duties and enhance the standard rate on all non-petroleum products from 8 per cent to 10 per cent ad valorem. The specific rates of duty applicable to portland cement and cement clinker are also being adjusted upwards proportionately. Similarly, the ad valorem component of excise duty on large cars, multi-utility vehicles and sports-utility vehicles which was reduced as part of the first stimulus package, is being increased by 2 percentage points to 22 per cent." So, clearly that means all cars would attract an excise duty of 10 % & the ad valor em component of excise duty on large cars, MUVs & SUVs would be 22 %.
	() Thanks

26th February 2010, 18:57	#29
kavesh55 BHPian Join Date: Nov 2007 Location: Mumbai Posts: 748 Thanked: 49 Times	The government needs to finally work on an expense and not an income budget. An organisation, which the govt. is the biggest is expected to be efficient, reduce cost and add value. But its not happening. They are implementing schemes which are just 20% efficient Implemented the sixth pay commission but the govt. offices operate with the same efficiency Inflation has gone through the roof, not to mention the quality in general because of this How many PSUs are privatised and contribute in terms of increased profits. An advanced country like the US too gives subsidies on fuel and tries to keep it low Fuel price wil affect not only petrol heads like us but everyone and everything. But we should not blame the government, we ought to be blamed. We again and again vote them to power. Statistics show that whenever the congress govt. has come to power yes inflation has increased and quality of life decreased. Last edited by kavesh55 : 26th February 2010 at 19:01.
	() Thanks