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Special duty concessions to promote clean environment | Union Finance Minister Pranab Mukherjee on Friday provided
relief measures to promote clean environment. Mr Mukherjee stated clean energy cess will be levied on coal produced in India as well as on imported coal, at
a rate of Rs. 50 per tonne. The measure, he said is aimed at building the corpus
of the National Clean Energy Fund. The Finance Minister said: "A concessional
custom duty of 5 per cent to machinery instruments, equipments and appliances
etc. required for the initial setting up of photo voltaic and solar thermal power
generating units have been proposed. They will also be exempted from the central
excise duty. Ground source heat pumps used to tap geo-thermal energy have been
exempted from basic customs duty and special additional duty." Central excise
duty on LED lights which are highly energy efficient source of energy has been
reduced from 8 per cent to 4 per cent at par with compact fluorescent lamps. "To
remedy the difficulty faced by manufacturers of electric cars and vehicles in
neutralizing the duty paid on their inputs and components, a nominal duty of 4
per cent on such vehicles has been imposed. Some critical parts of sub-assemblies
of such vehicles exempted from basic customs duties and special additional duty
subject to actual user condition. These parts would also enjoy a concessional
CVD of 4 per cent," he added. Mr. Mukherjee announced that a concessional excise
duty of 4 per cent has been provided to 'Soleckshaw, a product developed by CSIR
to replace manually operated rickshaws. Its key parts and components will be exempted
from custom duty. To encourage the use of bio-degradable materials, the import
of compostable polymer has been exempted from basic customs duty, the minister
further added. |
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