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Hopes of Auto Industry Shattered!

Central Excise - By: - Pradeep Jain - Dated:- 17-3-2016 - Introduction:- With the forthcoming budget 2016-17 there were lot of hopes and expectations of the automobile industry that they will be encouraged by way of various tax incentives but the bud .....

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Vide Budget 2016-17, the government has announced to levy infrastructure Cess at the rate of 1 to 4 per cent on manufacturing of cars. Infrastructure Cess is being levied on motor vehicles, of heading 8703, as per details mentioned hereunder: Rate of .....

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ing motor vehicles:- SERIAL NO. CHAPTER HEADING DESCRIPTION OF EXCISABLE GOODS 1. 8703 Motor vehicles cleared as ambulances duly fitted with all the fitments, furniture and accessories necessary for an ambulance from the factory manufacturing such mo .....

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provided exemption to the following motor vehicles subject to satisfaction of conditions prescribed therein:- SERIAL NO. CHAPTER HEADING DESCRIPTION OF EXCISABLE GOODS CONDITION NO. 2. 8703 Motor vehicles (other than three wheeled motor vehicles for .....

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s for physically handicapped persons 2 It is also worth noting that the condition no. 1 provides the exemption by way of refund mechanism as motor vehicles after clearance has been registered as ambulance or taxi. A certificate issued by concerned St .....

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of motor vehicle. Furthermore, condition no. 2 requires certification from Deputy Secretary of Department of Heavy Industries that goods are capable of being used by physically handicapped persons and affidavit by buyer of car that the car will not .....

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000 mm, namely petrol, liquefied petroleum gases (LPG) or compressed natural gas (CNG) driven vehicles of engine capacity not exceeding 1200 cc 1% 10. 8703 Motor vehicles of length not exceeding 4000 mm, namely diesel driven vehicles of engine capaci .....

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n-Cenvatable No Cenvat credit of this Infrastructure Cess will be available under the Cenvat Credit Rules, 2004. The Notification No. 13/2016-CE (N.T.) dated 01.03.2016, has amended Cenvat Credit Rules, 2004 made applicable from 01.04.2016 wherein pr .....

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