October 23, 2026 12:45 am (IST)
Follow us:
Govt extends reduced excise duties on some goods for 6 months
New Delhi, June 25 (IBNS): Providing a relief for car buyers, the Narendra Modi government on Wednesday decided to extend the excise duty concessions announced by the previous UPA-II government in its interim budget for another six months till Dec 31, 2014.
Finance Minister Arun Jaitley said that the facility of reduced excise duties to some segments has been extended for a further period of six months.
"In February this year, excise duties with regard to several categories of automobile vehicles were reduced for a brief period. Similarly some excise duty concessions were granted on capital goods and some consumer durables. Now these reduced excise duties had been were made applicable till the 30th of June this year," Jaitley told mediapersons.
"Considering the present situation in various sector, the government today decided to extend the facility of reduced excise duties to all these segments for a further period of six months that is they will continue till 31st December," the Finance Minister said.
He had also announced that small cars, motorcycles, scooters and commercial vehicles will have a lower excise duty of 8 percent from 12 percent, while excise duty on SUV's was reduced by 6 percent from 30 to 24 percent.
Excise duty on large and middle segment cars was reduced to 24/20 percent, down from 27/24 percent.
Reacting to the announcement, Ratan Tata, chairman emeritus, Tata Group tweeted "The nation voted 4 change. We need 2 stand together 2 support the new Govt's actions to re-build economic growth and prosperity in India."
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Onion prices set to get relief? Centre sends 440 tonnes to Tripura ahead of festive season
Fri, Oct 16 2026
12 nations turn to Bengal: ICC hosts diplomats in Kolkata to explore trade and investment opportunities
Thu, Oct 15 2026
Hyundai announces $15.5 billion India investment plan through 2032: Here's what's coming
Wed, Oct 14 2026
Modi, Anita Anand discuss trade, defence and energy as India-Canada ties gain momentum
Wed, Oct 14 2026
Government approves Fairfax Financial as strategic buyer for 60.72% stake in IDBI Bank
Wed, Oct 14 2026