Dear members plz tel me that local car prices are going to increase or not due to budget.What will be the effect of 1% increase of sale tax as we all know that sale tax is going to increased from 16% to 17%.How much the price will increase.
18:28: Hybrid cars up to 1200cc will not have any duty, sales tax or income tax. Duty on Hybrid Vehicles 1200 to 1800 to be reduced by 50 percent and from 1800 to 2500 cc to be reduced by 25 percent: Dar
So, if prices increase by 1%, and Suzuki Swift costs 12,51,000 nowadays(12 lac, 51 thousand).
It will increase by 12,510. The rest you can calculate just divide the amount by 100.
It's a 1% increase in the "GST", not on the car's price (which is always GST inclusive when advertised). So your formula isn't accurate. However, it does give a fair idea of the price increase due to the GST increase. But this all is with the assumption that the car manufacturers don't themselves increase the price as well (which, they are most likely to do)
Prices are set to rise. Pakistan Zindabad.
If Price w/ old tax = 12.51 lacPrice w/o tax = 12.51/1.16 = 10.7845 lacPrice w/ new tax = 1.17*10.7845 = 12.617 lac ~ 12.62 lacDifference = 12.62 - 12.51 = 0.11 lac = 11 thousand. (approx)
yes i also checked its an increase of about 10500 or so
I booked car on 10 june and was promised to be delivered on 15 june but this budget is causing problem for my invoice pray that i should not bear an additional 10k
Ohh thanks for the correction Never been good with numbers
No need to worry these are budget suggestion and they will be implemented by 1 july(though without any changes) but that is what the applicable date is. They will be on debate in parliament and than inforce from 1 july