INDIAN AUTOMOTIVE TECH MAY TAKE A BEATING: ACMA
Article Abstract:
The Automotive Components Manufacturers Association of India (ACMA) has urged the Government of India to levy a uniform customs duty of 40 percent on imported automobile components till 2002-03 AD. The high customs duty would help promote localisation of automobile components production. It has stated that India's automotive technology would not improve if the Government failed to take such a step. It has urged the Government to reduce the excise duty on automobile components to 10 percent from 13 percent. This would help narrow the gap between the genuine and the spurious products markets. It has projected exports of automobile components worth $1 billion by 2005 AD from ($230 million now). It has also suggested reduction of imports as the industry had posted a negative growth in 1997-98 for the first time in the last 12 years. (rk/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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PRICES OF CARS MAY GO UP
Article Abstract:
There is no direct taxes levied on cars, but the industry will be affected by the eight percent increase in the across the board excise duty, hike in duty on cold rolled coils from 25 percent to 30 percent and Modvat claim reduced to 95 percent of the credit. The cars will be costlier by Rs12,000 to Rs13,000 per unit due to the hike in duties. Among the car comapnies Maruti Udyoug and Hyundai have indigenised to a high level and they are less dependent on imports of components. (rk)
Comment:
India: Govt increases duty on cold rolled coils from 25% to 30%, & Modvat claim is reduced to 95% of the credit
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ITC HIKES PRICE OF SCISSORS BY 10 PERCENT
Article Abstract:
ITC Ltd has raised the price of its Scissors brand of non-filter cigarettes (below 60 mm) by about 10 percent. This is a result of the increase in excise duty on non-filter cigarettes from Rs100 per 1000 to Rs110 per 1000 sticks. The Scissors brand contributes about 22 percent to the company's turnover of Rs3140 crore. (khr)
Comment:
ITC Ltd has raised the price of its Scissors brand of non-filter cigarettes (below 60 mm) by about 10 percent.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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