Words: 734
The increase in prices Of Subs, after factory-gate taxes, will be as much as RSI 35,000, she added. Data Motors, suffered its worst decline in the fiscal, with a 70 per cent drop to just 1 0,613 units sold in February. Sales of the Anna, Indict and the Indigo range stood at 7,769 units while 2,844 units of the Sumo, Safari, Aria and Venture range were sold in February. The company did not disclose reasons for this drastic fall and added it had exported 3,996 vehicles during the month.
The country’s car industry suffered its steepest decline in sales during the current financial year as eroding customer confidence hit sales in February. This is in rank contrast to February 2012, when carmakers reported their biggest sales increase during that financial year. Marti Subsides -1. 98 % and Handy, Indian’s largest carmakers by sales, led the drop to register their second successive monthly decline, even as Maidenhair and Maidenhair and French carmaker Renault bucked the general trend, helped generously by burgeoning demand for their Subs in February.
However, with the government raising excise duty on Subs to 30 per cent from 27 per cent in the Budget, the rise in SUB sales may be difficult to sustain. The largest carmakers – Marti Suzuki, Handy and Data Motors – which comprise 80 per cent of the Indian passenger vehicles market, were the most affected and preliminary sales data furnished by different carmakers reveals that the decline could be in the range of 20-21 per cent in February, steeper than January’s 12 per cent year-on-year decline.
Malls mull hike in parking fees as service tax added Asian canasta’s & Cushman U N, TAN I Mar 2, 2013, MAMMA 1ST ACHAEAN: It is not just having a bite in a mall that is going to get more expensive, even driving into one will drill a hole in your pocket as the budget as withdrawn the service tax exemption extended to parking services . Malls and other parking service providers are set to jack up parking rates, while some others are devising strategies to combat this levy. Earlier, revenues earned from parking were not subject to tax. Now, under the new budget norms, we will be taxed for the revenues as well and this will be automatically passed on to customers,” said Transubstantiation’s , a parking services provider in Achaean. Service providers like him will also take a hit as they have refurnishing pacts with malls, where they provide services. While malls across the country are busy mulling tariff hikes, parking operators are busy devising means to circumvent the levy.
A Iambi-based parking operator, for instance, is contemplating to break the parking ticket amount with ‘an entry fee’ part which will escape service tax and charge the remaining small portion as parking fee for service tax levy. “There is no way customers will pay if we keep hiking parking tariffs,” he said. Parking fees at malls have, of late, been hitting the roof, and things worsen over the weekends. Malls in Achaean charge RSI 1 50 for premium parking for the first three hours and RSI 0 for every additional hour on weekdays.
During weekends, it is RSI 200 for the first three hours and RSI 70 for every additional hour. For titleholders , it is RSI 15 for the first hour and RSI 20 during weekends . Regular parking rates can be anywhere between RSI 20 and RSI 40 an hour for cars and about RSI 10 for two hours and RSI 5 for each additional hour for two wheelers. Adding 12. 36% service charge over this will give the quantum Of increase that the budget has brought in. For mall-hoppers , it is not just the increase that will be an issue. “The hike makes RSI 10 as RSI 11 and RSI 40 as RSI 44.
What I am really worried is about getting the change to pay customers said Been Shall, V-P , DEL Stake. The company runs two malls and two separate parking properties in New Delhi. “When Ballyhoo movies are released, a large number of people descend on the cinema halls and paying or demanding change from all of them is not what they would want. They don’t want to spend much time in the parking lot,” she said. The company is hurriedly looking into the issue, and finding ways to solve this. “It may involve rounding up the charges so that people can pay easily or introducing smart cards,” she said.