Budget 2023: EVs could get cheaper as lithium-ion cell machinery gets exempt from import duties
The finance minister announced that to promote the adoption of cleaner transport alternatives, the government has decided to exempt capital goods and machinery required to manufacture lithium-ion cells for batteries used in EVs. Custom duty on lithium-ion batteries themselves has further been reduced from 21 percent to 13 percent on commodities except for textiles and agriculture.
Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.
