The excise duty concessions will lapse on December 31, if not extended
Speaking on Road and Safety Bill 2014, Mr Reddy opined that measures must be initiated to strengthen state mechanism for better control of vehicles, instead of repealing the existing Motor Vehicle Act 1988. (Photo: DC/File)
New Delhi: India may extend excise duty concessions for carmakers beyond Dec. 31, a finance ministry source said on Thursday, as the industry continues to struggle with sluggish demand due to high interest rates.
"Car sales are down. The government could extend tax relief to the auto sector beyond Dec. 31," the source said on condition of anonymity.
The excise duty concessions, which were granted in February this year, will lapse on Dec. 31, if not extended.
( Source : reuters )
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