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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 budget came as a curse to them. All the hopes went in vain as soon as the Finance minister announced levy of Infrastructure cess on the vehicles. The levy of infrastructure cess came as a big blow to the car manufacturers. Levy of Infrastructure Cess:- .....

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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 motor vehicles 4. 8703 Electrically operated vehicles, including three wheeled electric motor vehicles 5. 8703 Hybrid Motor Vehicles 6. 8703 Three wheeled vehicles 8. 8703 Hydrogen vehicles based on fuel cell technology Furthermore, the government has .....

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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 State Transport Authority that the motor vehicle has been registered for use as ambulance/taxi is also required to be submitted to Assistant/Deputy Commissioner of Central Excise within 3 months or extended period of 3 months from the date of clearance .....

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