The Central Board of Excise and Customs (CBEC) today said that manufacturers of sedan cars,including Maruti SX4,Honda Civic and Toyota Corolla Altis,will not have to pay excise duty at the higher rate of 30 per cent levied on SUVs. This clarification will bring huge relief to the car manufacturers struggling with the contracting auto sales for the last few months.
The clarification was called given the confusion arising after the budget announcement 2013-14 which said that vehicles with engine capacity of over 1,500 cc,length exceeding 4,000 mm and ground clearance above 170 mm will have to pay tax at 30 per cent while large segment cars will continue to pay excise at 27 per cent. The confusion arose as sedan cars such as Maruti SX4 met all the three criteria but were not sports utility vehicles.
GM recalls 1.14 lakh Tavera vehicles
New Delhi: In one of the largest vehicle recalls in India,General Motors India today said it is recalling 1.14 lakh units of its multi-purpose vehicle Chevrolet Tavera,manufactured between 2005 and 2013,to address emissions and specification issues.
The company said it has informed the Indian government authorities of an emissions issue involving the Tavera BSIII and an issue with the Tavera BSIV meeting certain specifications,the company said in a statement.