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Energy saving devices, electric, hybrid vehicles to cost less

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Friday, 16 March 2012 14:57

Published on Friday, 16 March 2012 14:57

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Gujarat Global News Network, New Delhi

Union Finance Minister Pranab Mukherjee while presenting the budget today, proposed concessions and exemptions for encouraging the consumption of energy-saving devices, plant and equipment needed for solar thermal projects.

He proposed to fully exempt a coating chemical used for compact fluorescent lamps from basic customs duty. Excise duty on LED lamps is also being reduced to 6 per cent.

Concession from basic customs duty and special CVD is being extended to certain items imported for manufacture for hybrid or electric vehicle and battery packs for such vehicles. Specified parts required for the manufacture of hybrid vehicles enjoy full exemption from basic customs duty and special CVD with concessional excise duty / CVD of 6 per cent.    

For news in Hindi see our Hindi daily Chaupal Chronicle

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