EVs to become Cheaper: CBIC gives concession in Custom Duty to EVs imported under MHIS

The Central Board of Indirect Taxes and Customs (CBIC) has given concession in Custom Duty to Electronic Vehicles (EVs) imported under MHIS via issuing a Notification.

The Notification Read as follows:

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 50/2017-Customs, dated the 30th June 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 785(E), dated the 30th June 2017.

In the said notification,

(1) in the Table, for S. No. 526A and the entries relating thereto, the following S. No. and entries shall be substituted, namely: –

(2) in the Annexure, after condition number 116 and the entry relating thereto, the following condition number and entry shall be inserted, namely: –

For Official Notification Download PDF Given Below: