After Elon Musk’s auto firm Tesla Inc mentioned for tax concessions to bring electric vehicles into India, the public authority has turned it down, requesting the organization to focus on local manufacturing, assembling and obtaining standards to sell vehicles in India.
A senior finance ministry official conveyed this to ANI.
“Investments are already coming with the current tariff structure and other foreign companies are selling their electric vehicles with the current tariff structure. The route is open for others also with the current tariff structure,” said the official.
Musk had requested India to bring down taxes and to initially permit the organization to sell at a competitive value vehicle that were built outside. The current import obligation for CBU (completely built unit) vehicles ranges from 25 to 100 percent.
India has requested Tesla to think about importing so-called knocked-down units or partially built vehicles, which draw in a lower import levy, instead of fully-built units.