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Maruti SX4 and Corolla Altis to attract lower excise duty

Central Board of Excise and Customs (CBEC) recently, by a circular clarified that Maruti SX4 and Corolla Altis are called and traded as sedans and they will not come under the category of SUVs(at 30 %) even, these comes under the prescribed specifications. Thus, Maruti SX4 and Corolla Altis will now attract 27 % excise duty instead of 30 % . Reductions in excise duty will be relief to these auto makers when there is a drop down in sales.

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