Toyota India gets extra tax concession from Karnataka government

The Karnataka government on Thursday increased the tax concession on Toyota for its second plant in India. Reporters were told by cabinet minister V.S. Acharya that the cabinet has decided to give 9 crores tax relief to the Toyota joint venture on imports of tools and machinery. The value of all these things counts to Rs. 450 crore. He also informed that with this the cumulative tax concession given to the company the total concession during the last 2 years will amount to Rs. 89 crore.

Previously the company was given a tax concession of Rs 80 crore in 2009 when Toyota Motors started building their second plant to manufacture sedan cars for the Indian market.

The company has also announced that they would invest an amount of Rs 4,043 crore in the second power plant to manufacture Toyota Etios  hatchback and Toyota Etios sedan version, as the company says , this production unit will have a capacity of 70,000 units per annum.

Toyota India already launched the Toyota Etios sedan in December 2010 and has now announced Toyota Etios Liva hatchback launch on 27 of this month in Delhi. The first plant that was setup in 1998 has a capacity of producing 80,000 cars per annum.

The company has recently launched its new sedan Toyota Corolla Altis. This new car is available in both petrol and diesel engine in the market. The price of the car varies from Rs 10.53 lakh to Rs 14.77 lakh for petrol version and from Rs 11.46 lakh to Rs 14.55 lakh for the diesel version.

Toyota is among the world's largest auto manufacturer and has launched many cars in the international market.

Toyota Etios, Toyota Innova, Toyota Corolla Altis and Toyota Fortuner are the famous Toyota cars in India.Toyota's Indian subsidiary also imports Toyota Camry, Toyota Prado, Toyota Prius and Land Cruiser in the form of completely built units.

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