The government has announced an excise duty percentage on all vehicles imported starting in February, following the resumption of vehicle imports after a five-year suspension.
Excise duties of 200% and 300% have been imposed on vehicles not more than 10 years old from their date of manufacture. Certain categories of vehicles are subject to excise duties based on their engine cylinder capacities and motor power measured in kilowatts.
The gazette notification was issued to impose excise duty percentages, effective from today. It was issued by the President in his capacity as the Minister of Finance and Economic Development.The excise tax charged for cars per cubic centimeter for engine capacity of a 1,000 to 1,300 cubic meters has been raised to 2,750 rupees from 2,600 rupees.
The excise tax charged for cars per cubic centimeter for engine capacity of a 1,300 to 1,500 cubic meters has been raised to 3,450 rupees from 3,250 rupees.
