Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: empanelment :: articles on VAT and GST in India :: list of goods taxed at 4% :: form 3cd :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: TDS :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: VAT RATES :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT
Customs and Excise »
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
 Seeks to amend Notification No. 27/2014-Central Excise
 Government doubles limit of excise duty evasion for arrest and prosecution
 Excise duty evasion limit to warrant arrest revised to Rs 2 crore
 Guidelines for launching of prosecution in relation to offences punishable under the Customs Act, 1962
 GST notification triggers uncertainty over excise duty
 Preparing for GST: govt looking at restructuring excise/customs cadre
 Refund of Terminal Excise Duty (TED) under Deemed Exports where Duty has been paid from CENVAT Credit and ab-initio waiver is not available.
 CBEC directs customs officials for random search of vessels
 Rate of exchange of conversion of the foreign currency with effect from 7th July, 2016

Luxury cars to be costlier despite CKD custom duty cut
March, 24th 2011

Luxury car prices will rise but not as high as expected thanks to the halving of customs duty to 30% on completely knocked down (CKD) kits for pre-assembled engines, gearbox and transmission, according to experts.

"It (the decision to lower duty) will definitely provide a relief to the automobile industry. Although the prices of luxury cars will rise, it will not be as steep as it would have been earlier," KPMG Executive Director Pratik Jain told PTI.

He was responding to Finance Minister Pranab Mukherjee's decision to reduce the basic customs duty from 60% to 30% on CKD kits containing a pre-assembled engine, gear box, transmission assembly imported for the manufacture of vehicles.

While presenting the Budget 2011-12, Mukherjee had excluded units containing a pre-assembled engine or gearbox or transmission mechanism or chassis from the purview of CKD.

Although the other CKD parts continue to attract customs duty of 10%, for the specified parts of pre-assembled engine or gearbox or transmission, it became 60%.

MS Mani, Indirect Tax expert at Deloitte India said the partial withdrawal of the sharp increase in customs duty will "largely benefit luxury car manufacturers and customers wanting to buy these cars".

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions