Industry body ATMA expects the government to lower the import duty of natural rubber to meet growing demand for automobile tyres.
The move could give a strong push to the passenger vehicles sales which otherwise have been cruising in the slow lane in the second and third quarter of Fiscal Year 2018-19 and the industry isn't expecting the performance to improve significantly even in the last quarter. Moreover, luxury carmakers like Mercedes-Benz, BMW, Audi, Volvo and Jaguar Land Rover who general...
Budget 2019: Ficci has pitched for a reduction in customs duty on a variety of materials used as key inputs in the steel-making process. Availability of vital inputs in good quality is declining and the steel industry has to depend on their imports on a regular basis, Ficci has said in its pre-Budget recommendations to the government.
This is the first Budget after the introduction of GST and we all know how the prices of cars were affected by the introduction of the Goods and Services Tax. GST did away with all the indirect taxation but the additional cess on luxury cars acted as a dampner for the car makers, in Budget 2018.
The Jaguar portfolio in India includes models like XE, XF, F-PACE and XJ while the Land Rover range includes the Discovery Sport, Range Rover Evoque among others.
Mahindra Racing will have access to Pininfarina's testing facilities in Italy which will help the team enhance the aerodynamic efficiency of its race car, the company said.
From 2017-18 the weighted tax deduction on research and development (R&D) expenses has been reduced to 150 per cent from 200 per cent earlier.