Govt plans to continue incentives for auto sector beyond Dec
Updated: Sep 11, 2014 02:36:05pm
New Delhi, Sept 11 (KNN) The Government is planning to continue the incentives provided to the automobile sector beyond December, Heavy Industries Minister Anant Geete said.
Speaking to the media on the side-lines of the ACMA conference here today, he said, "We have already discussed the proposal (to extend excise duties beyond December) that the incentives provided (to the auto sector) should be continued.
“The government will take a decision in this regard at the appropriate time,” reports media.
Earlier this year, the government had extended the excise duty concession by six months to December 31. The concessions were earlier valid till June-30.
The excise duty on capital goods and consumer durables will continue to have a duty of 10 per cent as against the pre-budget rate of 12 per cent.
The duty on large cars will continue at 24 per cent compared with 27 per cent earlier, while the duty on mid-sized cars will stand at 20 per cent from 24 per cent. (KNN/SD)
Speaking to the media on the side-lines of the ACMA conference here today, he said, "We have already discussed the proposal (to extend excise duties beyond December) that the incentives provided (to the auto sector) should be continued.
“The government will take a decision in this regard at the appropriate time,” reports media.
Earlier this year, the government had extended the excise duty concession by six months to December 31. The concessions were earlier valid till June-30.
The excise duty on capital goods and consumer durables will continue to have a duty of 10 per cent as against the pre-budget rate of 12 per cent.
The duty on large cars will continue at 24 per cent compared with 27 per cent earlier, while the duty on mid-sized cars will stand at 20 per cent from 24 per cent. (KNN/SD)
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