Rationalise customs duty on imported luxury cars: Mercedes-Benz India CEO

Share FacebookTwitterWhatsAppPinterestLinkedinCopy URLTelegramEmailTumblrReddItPrintKoo Pune, Jan 18 : A rationalisation of customs duties on imported luxury cars would help stimulate demand in the premium segment, leading to higher overall tax revenue for the government, according to Mercedes-Benz India Managing Director and CEO Santosh Iyer. Besides, a more stable macroeconomic policy and improved fiscal management to arrest the ongoing decline of the rupee would help luxury car makers, which have been forced to increase prices due to rising input costs that, in turn, have had an impact on demand, Iyer told PTI when asked about expectations in the upcoming Union Budget. Terming GST 2.0, under which rates were rationalised last year as “a very positive step”, he said, “The same should happen for customs duties as well”.