Insta
Govt Likely To Offer Partial Customs Duty Relief For Tesla's EVs; Seeks Company's Investment Plans: Report
Tesla CEO Elon Musk
India is said to be considering partial customs duty relief for Elon Musk-led Tesla Inc's electric vehicle imports into India and has sought the company's detailed investment plans for the country, reports Economic Times.
It had been earlier reported that the government was open to lowering the import duty on electric vehicles (EVs) if the company gives an assurance about starting manufacturing in the country.
As of present, the government's customs duty regime does not differentiate between electric cars and those that run on traditional fuels and imposes high duties to encourage local manufacturing.
Meanwhile, it should be noted that the government has already reduced the Goods and Services Tax (GST) on electric vehicles to five per cent from 12 per cent. It has also lowered the GST on chargers and charging stations for electric vehicles to five per cent from 18 per cent.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
