Excise duty hike!!!

It was in news that the car makers in India have stated that the hike in prices is applicable only to the products that will be dispatched after 16th March. The old stock available with the dealer and all the bookings done prior to the Union Budget are entitled to be sold at the pre-budget prices. The already staggering auto industry is likely to register lesser growth because of hike in excise duty and high service tax.