Just two days before the union budget, the customs duty on electric vehicle components which are imported in a knocked-down or semi knocked down state, have been reduced to 10%-15%, according to the notification issued by the Central Board of Indirect Taxes and Customs which came into effect from today (January 30, 2019). Prior to this, around 15% to 30% was charged as import duties on electric vehicle components. This reduction of the taxes is aimed at encouraging global automobile companies to assemble electric vehicles in India. In a bid to adapt the electric vehicles, the panel had also proposed different registration rates, exemption from road tax and parking charges for the users. n order to achieve the goal of increasing the number of electric vehicles to 30% of electric vehicles among the new vehicles by 2030, the Centre will also be focusing on the deployment of electric buses on the Indian roads as a part of the FAME II scheme. As a part of the FAME II scheme, the government also plans to install about 300 electric vehicle charging stations along the Indian highway by end of 2019.

(Inc42)