Impact Of Union Budget 2016 On Automobiles In India

Impact Of Union Budget 2016 On Automobiles In India

In India buying a new car was never an easy task as you have so many products to choose from, and the worst part is that every 6 months there is a new entrant in the market. The changing tax rules makes it even more difficult to buy your dream machine. 

So the 2016 union budget comes up with some intentions to burn a bigger hole in  your pockets while you are out buying a new car. Now, a 1% infra cess will be charged on all petrol/CNG/LPG cars and 2.5% infra cess will be applicable on the diesel cars.

If you are opting for a car which bears a price tag of more than INR 10 lakhs, then you will end up paying 1% of your car’s worth as luxury tax. While for the SUVs the premium will be 4% of your SUV’s price tag.

The government intends to curb the number of diesel vehicles sold in India clearly because they pollute more than their equivalent petrol counterparts.

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