Wednesday, December 7th, 2022

Tesla will not get tax exemption: Elon Musk’s plan to enter India suffers setback, government rejects demand for tax exemption

Tesla’s plan to enter India has suffered a setback. The government has rejected Tesla’s demand for an import tax exemption. Let us tell you that on Twitter, Tesla owner Elon Musk had asked a user when Tesla will be launched in India. In response, Elon Musk had said that Tesla will enter India only after the decision on import tax is taken. At the same time, Union Road Transport and Highways Minister Nitin Gadkari has already made it clear that if Tesla wants tax exemption, then it will have to first set up Tesla’s manufacturing plants in India.

The government has rejected
their demand saying that India already has a policy for it. Under this policy, auto companies have been allowed to import partially built vehicles in India at a low import fee and assemble them here.

Vivek Johri, chairman of the Central Board of Indirect Taxes and Customs, said, “We considered whether there is a need to change the duty. We found that there is some domestic production happening and there has been some investment on the existing tariff structure. Therefore, it is clear that there is no problem in it with duty. ”

Tesla’s Model 3 is priced at $ 39,990 (Rs 30 lakh) in the US. But in India, it will cost up to about Rs 60 lakh with import duty. Which is too much. Currently, imports of cars costing more than Rs 30 lakh in India attract 100% tax, including insurance, shipping costs. At the same time, import duty of up to 60% has to be paid on importing cars worth less than 30 lakhs.

Tesla has
registered its office in Panvel, Mumbai. The company was planning to launch its Model 3 electric car in India. At the same time, the company was planning to launch another electric car in India after this electric car.

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