Vehicle Duty Going To Increase This Friday ?

[sampath_fer]

Is it true vehicle import duty going to increase this Friday ?

[waka]

I have no idea, but if it is true, it will be a disaster, because with the rupee depreciation, car prices have already gone higher! I thought government is going to do the opposite by decreasing duty in order to get rid of increase in vehicle prices in SL .

[udayap]

This can be. Gvt is facing enourmous problem of diminishing foriegn reserves. So, to cut down vehicle imports they can increase the taxes. Most of the times these roumers come true.

Keep fingers crossed to expect more miracles!!!

[rangerover]

I have no idea, but if it is true, it will be a disaster, because with the rupee depreciation, car prices have already gone higher! I thought government is going to do the opposite by decreasing duty in order to get rid of increase in vehicle prices in SL .

You really think the governments' priority at this time is managing the prices of motor vehicles in this country when the prices of all essential goods have gone up??? If the governments is willing to take a hit on their revenue income, reducing taxes on fuel and other essential food imports would be most prudent. But with the ever rising balance of payment deficit and deteriorating foreign reserves (foreign reserve < trade deficit) i would be highly skeptical. That said! this government is known for its surprises!!!

[waka]

Yeah, government's top priority should be essential goods and fuel, but increasing tax for will be a double blow in a short period of time (increasing dollar and now increasing tax). I was planning to import a car from Japan auction, now I have to rethink about my decision.

This is like "gahen watunu minihata gona anna wage"

[kush]

Hi waka, if you want a vehicle go and get one already imported there are plenty of vechiles inported at old exchange rates. Why do you want to take risk at the posibility of higer rates and duty. Unless you are planning on getting down something special.

[YALA]

You really think the governments' priority at this time is managing the prices of motor vehicles in this country when the prices of all essential goods have gone up??? If the governments is willing to take a hit on their revenue income, reducing taxes on fuel and other essential food imports would be most prudent. But with the ever rising balance of payment deficit and deteriorating foreign reserves (foreign reserve < trade deficit) i would be highly skeptical. That said! this government is known for its surprises!!!

you kidding it hasnt gone up at all the noble education minister had claimed that a family can live with Rs 7,500 he had even spoken about managing it with 2,500

[rover]

Is it true vehicle import duty going to increase this Friday ?

care to reveal your source?

[sampath_fer]

A friend linked to Finance side as got a news. Its not just vehicle imports but a semi budget affecting all Exports and imports etc.... Supposed to release tomorrow.... Any truth ???

Edited March 29, 2012 by sampath_fer

[Pericles]

A friend linked to Finance side as got a news. Its not just vehicle imports but a semi budget affecting all Exports and imports etc.... Supposed to release tomorrow.... Any truth ???

You have a friend .. uh ... "linked to Finance side" but you felt like asking complete strangers at an automobile forum? Even if someone says yes or no, what proof do you have that they are correct?

The only thing that happens from this kinda post is that rumours spread. Guarantee you that already there must be a whole bunch of chaps walking around discussing if the prices are going up coz they saw a post on autolanka.

[sampath_fer]

Kindly remove the post then...

[CARBON B4]

There have been several ads in last Sunday papers advertising cars saying its the last batch of cars at the old prices ( If I remember correct there was a ad for the BMW X1 by Dim *o )

Not sure if this is to get rid of the old models or if these were the last few brought down prior to the steep increase in the Forex rate.

Anyway if they do increase the duty tomorrow, car sales guys will make a killing as there is a tendency for lot of people to buy new cars prior to Avurudu. Also people doing business in cloths/electrical goods etc also have a lot of cash after the Avurudu sale which they will put down/invest on a new car.

Edited March 29, 2012 by CARBON B4

[dpbatagoda]

I also heard that there will be increase in duty from 1st of April from couple of guys who is engaged in vehicle trade.

[kush]

This could be traders trying to sell off their stocks, vehicle sales have drastically dropped due to hight interest rates and banks/ finance co's slow down on lending.

[rangerover]

There have been several ads in last Sunday papers advertising cars saying its the last batch of cars at the old prices ( eg.. the BMW X1 by Dim *o )

Pretty lame example!

[Watchman]

There have been several ads in last Sunday papers advertising cars saying its the last batch of cars at the old prices ( eg.. the BMW X1 by Dim *o )

May I ask, are you saying that D*MO is selling the X1 at a discount?

[ferrarif50]

( eg.. the BMW X1 by Dim *o )

[Pericles]

There have been several ads in last Sunday papers advertising cars saying its the last batch of cars at the old prices ( eg.. the BMW X1 by Dim *o )

Not to put down ur point or anything, but D*MO sells Mercs...

[CARBON B4]

May I ask, are you saying that D*MO is selling the X1 at a discount?

Sorry guys.... got the two mixed up.

[SeanD]

Probably cos nobody wants to buy an X1, even at a discount

[KMG]

Tax increase may follow soon, Gov servents permit scheme alrady cancelled.

[whmsujith]

From reliable information I came to know that there will be 30% tax increse for 1000cc and lesser capacity vehicles from 1st April as 69% of the vehicle import to county is under this category.

[kush]

So tax for below 1000 cc will be more than 1000-1600 cc

[defendertdi]

From reliable information I came to know that there will be 30% tax increse for 1000cc and lesser capacity vehicles from 1st April as 69% of the vehicle import to county is under this category.

most of the vehicles below 1000cc r imported from India...good move....:D...

[whmsujith]

So tax for below 1000 cc will be more than 1000-1600 cc

may be..I don't know the current figures.

most of the vehicles below 1000cc r imported from India...good move.... :D...

Yeah..you are right..some would hurt.