Tag: excise duty cut on cars
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India: Excise Duty Cut on Cars may boost Domestic Flat Steel Consumption
The interim Budget has bought in some relief for the automobile Industry as the Finance Minister Mr. P Chidambaram reduced excise duty for small cars by 4%. The prevailing duty of 12% was reduced to 8%. The automobile Industry is one of the major consumers of Flat Steel products in India. This sector consumes around…