Express News just received a copy of the Finance Bill of the new budget for 2014-15 and according to their first highlights from the report run on their news channel, 17 percent sales tax imposed on CNG. While 10 percent Federal Excise Duty on locally made 1800cc and above cars is proposed to be taken back, meaning Toyota Fortuner may get cheaper. Perhaps the local automakers are lobbying with the government in full swing.
Moreover, the budget proposes an additional tax of 10,000 rupees on airline passengers of first and business class.
General Sales Tax (GST) on Tractors is proposed to be reduced from 16 percent to 10 percent.
These propositions would be implemented after approval by the parliament. The correspondent of Express News say that government is going to put forth the bill in the parliament for discussion within two days and to get it approved.
We’ll try to bring more information on cars in the budget.