TaxTMI 
TaxTMI 
TaxTMI 
Impact of Lower Excise Duty on Industry
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....mpact of Lower Excise Duty on Industry <br>News and Press Release<br>Dated:- 19-3-2015<br><BR>The production growth rate of Automobile Industry during the period April 2014 to February 2015 compared to the same period of last year is as under: April-February 2014 April-February 2015 Growth% Passenger Vehicles 2,815,563 2,927,447 3.97 Commercial Vehicles 636,923 629,905 -1.10 Three Whe....
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....elers 763,338 867,888 13.70 Two Wheelers 15,429,731 17,042,863 10.45 Total of All Categories 19,645,555 21,468,103 9.28 The Government is taking steps to improve growth through policies like the JNNURM and support for improving exports. The vehicles manufacturers are launching newer and improved models to boost demand. Excise duty was reduced w.e.f. February, 2014 to December, 2014 ....
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....and thereafter the earlier higher duty level has been restored. Almost all the sectors had shown improvement in production during the lower excise duty phase and the previous negative trend was reversed. Comparative data of production during the period January-December, 2013 and January-December, 2014 is as under: January-December 2013 January-December 2014 Growth% Passenger Vehicles 3,155,6....
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....94 3,158,215 0.08 Commercial Vehicles 742,731 681,945 -8.18 Three Wheelers 847,323 937,879 10.69 Two Wheelers 16,413,175 18,490,931 12.66 Grand Total 21,158,923 23,268,970 9.97 This information was given by the Minister of State in the Ministry of Heavy Industries and Public Enterprises Shri G.M. Siddeshwara in reply to a written question in the Rajya Sabha today.<BR> News - Pr....
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....ess release - PIB....