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No effect of excise duty cut on Maruti’s Swift

NEW DELHI: The two percentage point cut in the excise duty rate from 10 per cent to eight per cent, as announced as part of the interim budget stimulus measures with effect from Tuesday midnight, will not result in any reduction in the prices of Maruti Suzuki’s passenger car ‘Swift’.

Referring to a news item (The Hindu dated February 25, 2009) titled ‘Buyers of some cars, white goods will benefit’, which quoted CBEC Member V. Sridhar, Maruti Suzuki clarified that there “is no change in the price of the Swift model after excise duty reduction from 10 to 8 per cent announced by the Government on Tuesday.”

“The Swift attracts 20 per cent excise duty, whereas, the two percentage point reduction is applicable on those vehicles that were levied at 10 per cent excise,” the car-maker said in a statement.

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