Large cars currently attract excise duty depending on their engine capacity and length. While presenting the Union Budget 2012-13 in Lok Sabha today, the Finance Minister Shri Pranab Mukherjee proposed to enhance the duty from 22 per cent to 24 per cent. In the case of cars that attract a mixed rate of duty of 22 per cent + Rs 15,000 per vehicle, he proposed to increase the duty and switch over to an ad valorem rate of 27 per cent.

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Category : Excise Duty (4127)
Type : News (13568)
Tags : Budget (1956)

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