This would help in bringing down the cost of electric vehicles and thus help boost EV sales.
Moneycontrol News
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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.
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First Published on Jul 5, 2019 02:34 pm
