Budget impact: Imported cars dented, prices to go up by Rs 40,000
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11/07/2004
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Indian Express (New Delhi)
Buyers of some imported top-end premium cars and SUVs can mourn. Standard price tags of Rs 14-20 lakh may change. Some manufacturers plan to pass on the additional burden to customers. Others won't take that risk right now, but rather sulk and bear the pain. With Chidambaram's Budget, the effective rate of duty (includes existing duty and the new education cess) on imported completely-built units (CBUs) has hit 103 per cent from 100.2 per cent earlier. This translates into a hike of about Rs 30,000-40,000 on premium vehicles.