Excise rates up on luxury cars

With finance minister Pranab Mukherjee announcing a roll back in excise duty imposed on luxury cars, they are set to become more expensive in India.


He imposed an additional 2% excise on the luxury cars, bringing it at par with the rates prevailing prior to the implementation of the fiscal stimulus package. The duty for luxury cars and sports utility vehicles now stands at 22% with the withdrawal of the excise reduction.