INDIA: Customs duty to rise 180%? - report
India has proposed a steep rise of over 180 percent in customs duty in an effort to discourage free import of used cars once the Quantitative Restrictions have been lifted from April 1, reports 'indiaexpress.com'. "To allay the fears of surge in import of second hand cars, the rate of basic customs duty on their import will be raised to 105 per cent, which is three times the peak rate," said Finance Minister Yashwant Sinha in his budget speech.
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