INDIA BUSINESS WORLD - FEBRUARY 2007
The Month that was ...
IMPORT DUTY ON LUXURY CARS SET TO COME DOWN
If you fancy imported cars like Porsche Cayenne, Bentley Continental GT Flying Spur, Rolls Royce Phantom or the Lamborghini Gallardo, the forthcoming Budget could drive home some good news for you. The government is mulling a reduction in Customs duty on completely built units (CBUs), which is currently pegged at 60%.
According to car importers, the proposed 10% cut will reduce the prices of these imported dream wheels by 5%. For example, while the Flying Spur, which costs around Rs 1.8 crore, will be cheaper by around Rs 10 lakh, the Phantom, which costs around Rs 3.5-5 crore, will be cheaper by Rs 17-25 lakh.
|
