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Toyota says it won't expand further in India, blames 'we don’t want you' taxes
Read more at: https://economictimes.indiatimes.com/industry/auto/auto-news/toyota-says-it-wont-expand-further-in-india-blames-we-dont-want-you-taxes/articleshow/78117342.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Read more at: https://economictimes.indiatimes.com/industry/auto/auto-news/toyota-says-it-wont-expand-further-in-india-blames-we-dont-want-you-taxes/articleshow/78117342.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Small Cars Taxes (< 1200CC)
Pre-manufacture:
Excise -- 12.5%
NccD (Cess) -- 1.1%
VAT -- 14%
Post:
SGST -- 9%
CGST -- 9%
Road Tax -- 4% - 8.75%
Registration Tax -- 5% -- 15.63%
Overall 54% to 70% (till a small car hits the road)
+ Fuel Taxes later
Pre-manufacture:
Excise -- 12.5%
NccD (Cess) -- 1.1%
VAT -- 14%
Post:
SGST -- 9%
CGST -- 9%
Road Tax -- 4% - 8.75%
Registration Tax -- 5% -- 15.63%
Overall 54% to 70% (till a small car hits the road)
+ Fuel Taxes later
Any car that exceed 1500CC is labelled as "LUXURY" car and is taxes of GST reaches 14% each (total 28%) ! :-)
Now as per old socialism principle - These "Sin Products" (cars) requres around 5K people per mfg plant to manufacturing + Dealers employees, drivers etc etc (create tonnes of Jobs) shd NOT b welcomed as these r "Anti common people industries"! ;-)
