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Further Reduction In Tax?

fuzzo

By fuzzo
in General Automotive

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seeker Newbie

seeker

Posted
Posted (edited)
our freaking toyota is stuck in the harbor, dealer refuses to clear the car in a hurry coz price is agreed with us and any saving on tax is all his!!!

well... assuming he agreed that you'll be given the car irrespective of an increase in costs, then it should work the other way as well, isn't it?

by the way, is he going to pay any demurrage charges due to this action as well?

better get this cleared... I may be wrong, but it's unlikely that there'll be a tax reduction within the next few days.. such an act requires a govt circular to be published, and reach the relevant parties... these take time... only simple things like constitutional amendments get cleared at the speed of light... :)

Edited by seeker
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TharakaWi Newbie

TharakaWi

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Posted

Yep. lots of ppl I know are also reluctant to clear their vehicles... Very understandable from their side too. What if you clear your car, and few hrs later it reduces by 1 lakh. Most ppl put their hard-earned money, and they do feel a lost if it happens.

The rumor I heard is that the gov is planning to decrease the 20% VAT to 5%. Not sure. Another person told me that only certain class of vehicles (low engine capacity) get a benifit of 10% reduction. They r all romors though

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jami Newbie

jami

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earlier i said that there will be a certain tax reduction in next budget. And it ill in the range 10-15%. But most of the car importers now think that this reduction will come soon, and they are lazy to clear the vehicles frm harbor.

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xXx Newbie

xXx

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I am all in for tax cuts but this is absurd from a business’s point of view.

There's already lot of stock with importers plus there's lot on the way to SL. Government should have reduce whatever percentile as one big chunk not segmented like it is happening now or atleast they should announce any future reductions well in advanced so importers can formulate a strategy and everyone can come out winner.

If the government reduce taxes say tomorrow it'll take a lot longer time for the market to absorb the reduction since there's lot of stock that was brought down under the previous tax scheme. Just shows how short sited these policy makers and their so called advisors are.

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jami Newbie

jami

Posted
Posted
I am all in for tax cuts but this is absurd from a business’s point of view.

There's already lot of stock with importers plus there's lot on the way to SL. Government should have reduce whatever percentile as one big chunk not segmented like it is happening now or atleast they should announce any future reductions well in advanced so importers can formulate a strategy and everyone can come out winner.

If the government reduce taxes say tomorrow it'll take a lot longer time for the market to absorb the reduction since there's lot of stock that was brought down under the previous tax scheme. Just shows how short sited these policy makers and their so called advisors are.

yes ur right, it really takes more times to get the benefit.

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isurujosh Newbie

isurujosh

Posted
Posted (edited)
well... assuming he agreed that you'll be given the car irrespective of an increase in costs, then it should work the other way as well, isn't it?

by the way, is he going to pay any demurrage charges due to this action as well?

better get this cleared... I may be wrong, but it's unlikely that there'll be a tax reduction within the next few days.. such an act requires a govt circular to be published, and reach the relevant parties... these take time... only simple things like constitutional amendments get cleared at the speed of light... :)

it is through a family friend we are importing. we actually placed the order way long ago soon after tax but the dealer mentioned about having to keep the car in japan for some time before importing to make use to some tax benefit(not this one but something to do with age of car). so in our agreement there was no clause on time anyway. so we cannot fuss.

Edited by isurujosh
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xXx Newbie

xXx

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it is through a family friend we are importing. we actually placed the order way long ago soon after tax but the dealer mentioned about having to keep the car in japan for some time before importing to make use to some tax benefit(not this one but something to do with age of car). so in our agreement there was no clause on time anyway. so we cannot fuss.

This is a very common practice. Waiting till the car reaches the amximum age limit before export.

intresting..await mor suprice a tax refund certificate to drop dwn d 2 nd hand market?????

anyone got full detils on this????

There's something new every day now huh. So how does thsi gona work? tax refund to the importer or the buyer???

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