Re: Price Hike of Cars in India (News and Updates)
Budget 2012-13 and Auto Industry:
Three Categories and three subcategoris in 1st two:
1. Petrol
A) <1200 CC and <4 M: 12 % excise duty (up from 10%)
B) <1500 CC and >4 M: 24 excise duty
C) > 1500 CC and >4 M: 27 % excise duty
2. Diesel
A) <1500 CC and <4 M: 12 %
B) <1500 CC and >4 M:24 %
C) >1500 and >4 Meter: 27 %
3. Suv: Priced more than $ 40000: Excise duty up from 60-75 %
With this as a background, dealer would jump or have already jumped and increase the price from midnight. Technically speaking this should be effective from 1st April but who care's for technicalities.