Synopsis

Topic : Increasing Customs duty affecting the sale of cars in the market
Introduction : Customs Duty is a type of indirect tax levied on goods imported into India as well
as on goods exported from India. In India, the basic law for levy and collection of customs duty
is Customs Act, 1962. But in the recent Finance Budget there has been a hike in the customs duty
on automobiles and this has a negative impact to the automobile companies. This study aims to
determine the reasons for the increase in customs duty by the government and how the
companies are being affected. This budget is only going to be a burden as the manufacturers
would pass on this hikes in prices to customers and this will further dampen the ongoing sluggish
sales.
Aims and Objectives :
-

To outline the negative impacts the industry would face because of this law.

To determine the reasons for why the hike has been made on
customs duty by the
government in the latest budget.
To trace out the problems in the law that has been passed.

Research Methodology :
The type of research that would be conducted would be mainly from secondary sources.
Research Gap :
This is a new and fresh topic which has not been studied much so far.