Budget 2019: Customs duty exemption on parts of electric vehicles
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This would help in bringing down the cost of electric vehicles and thus help boost EV sales.
In order to encourage the use of electric vehicles, Finance Minister Nirmala Sitharaman announced customs duty exemption on certain parts of electric vehicle.
With a focus on incentivising e-mobility, the government announced a number of measures including income tax exemption and increased spending through the FAME scheme in the Union Budget 2019-20.
The exemption from customs duty would extend to parts for exclusive use in electric vehicles. This includes e-drive assembly, on-board charger, e-compressor and a charging gun.
This would help in bringing down the cost of electric vehicles and thus help boost EV sales in India.
Source: moneycontrol
