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Corporate Feb 25, 2013

Excise dept sends notice to Honda; seeks cost data on sold models

By Firstbiz Staff

The Excise Department has sent a notice to Noida-based Honda Cars India seeking cost data on models sold by the company, reports CNBC TV18's Ronojoy Banerjee.

The first automaker in North India to get a notice from the Excise Department, industry sources said that other companies in the Gurgaon-Manesar belt including Maruti Suzuki is also likely to get a similar notice.

Reuters

Honda Cars declined to comment on excise notice. Reuters

There is hope that the FM would issue clarifications on the matter in the Union Budget. Earlier, Tata Motors, M&M and Ashok Leyland also received similar notices.

Honda Cars declined to comment on excise notice.

by Firstbiz Staff

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