New custom taxes propel the prices of imported cars

Increase of custom duty propel the prices of imported cars by Rs 7 to 12 lakhs

The importers of motor vehicles have notified that owing to the government of new valuation in relation to the cost incurred by the manufacturers the custom duty on imported vehicles would propel the prices of imported vehicles

between rupees seven to  twelve lakhs.

Accordingly the price of an Toyota Aqua would increase by Rs 770,000/- Toyota Axio by a sum of Rs 703,000/-Toyota Premio/Allion would increase by Rs 675,000/-,Toyota Preus would increase by Rs 1,120,000/-Toyota Hariol would increase by Rs1.150,000/-and the price of a Mitsubishi Outlander would increase by Rs 852,000/-

In this regard the co secretary of the vehicle importers association Nishantha Perera had added to the "Today" newspaper expressing views on these increases. He had added that the Finance Minister has issued a gazette notification in the increase of custom duties according to the type of manufacturers' cost.Accordingly with effect from 08th instant the custom duties of all Japanese vehicles would increase between Rs 07 to Rs 12 lakhs region. Hence the selling prices of all imported vehicles from Japan would increase accordingly.

The co secretary of the vehicle importers association had added that would protest against the increase of custom duties gazetted.

Under this environment the vehicle importers had added that the vehicles imported from India too would go up.