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Excise duty increase for cars

The Government has decided to increase the Excise (Special Provisions) duty applicable to private cars and vans from October 15 to curtail the Foreign Exchange draining out from the country and to face the petroleum crisis.

This duty increase will not apply to motor bicycles, trishaws and vehicles used for public and goods transport, a Finance Ministry press release said.

The depreciation table used for valuation of motor vehicles has been amended to discourage importation of used vehicles to the country.

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