Sedans like Maruti SX4, Corolla Altis to attract 27% excise
Central Board of Excise and custom has now clarified that sedans such as Maruti SX4 and Toyota Corolla Altis will come under the slab of 27 per cent excise duty instead of 30 per cent levy prescribed for SUVs. The CBEC said that the vehicles which come under the sedan category will not be covered under the 30 per cent excise duty applied to sports utility vehicles (SUVs) like Mahindra Scorpio and the Toyota Fortuner.
As per the new tax slab, vehicles like Toyota Corolla Altis and Maruti Suzuki would now pay only 27 per cent duty. The Indian government had increased the excise duty on SUVs in this year's budget to 30 per cent having over 1,500cc engine capacity, overall length more than 4,000mm and the ground clearance of 170mm and above. After CBEC clarification, the confusion among the manufacturers over the tax slab for larger sedans with similar technical specifications is resolved now.
Source : ET
Read More on : Toyota Corolla
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