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Large cars to cost more


March 16, 2012 - New Delhi

Finance Minister Pranab Mukherjee's annual budget for 2012-13 has hurt the sentiments of many car lovers across India, as the excise duty on large cars has been raised from 22 percent to 24 percent.

Large cars currently attract excise duty depending on their engine capacity and length.

While presenting the Union Budget 2012-13 in Lok Sabha today, Mukherjee proposed to enhance the duty from 22 per cent to 24 percent.

In the case of cars that attract a mixed rate of duty of 22 percent plus Rs 15,000 per vehicle, he proposed to increase the duty and switch over to an ad valorem rate of 27 percent.

ANI

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