GSTnews item5 December 2018

Heavy Industries Ministry proposes import duty cuts on more EV parts

News Update

Heavy Industries Ministry proposes import duty cuts on more EV parts

Published Date: Dec 06, 2018
Source: ICAI PD Committee
The Heavy Industries Ministry has proposed reducing customs duty on parts of electric vehicles which are currently not exempted from import tariff to the Department of Revenue, according to senior officials.With an aim to boost production of electric vehicles (EVs) in the country, the ministry has also suggested defining semi knocked down and completely knocked down kits used for assembling EVs for streamlining of customs duty.At present, key components for EVs, including battery, controller, charger, converter, energy monitor, electric compressor and motor, attract zero customs duty. On the other hand, parts including metals and plastics attract 28 percent basic customs duty.
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