No proposal with the Finance Ministry to relook duty structures to facilitate Tesla’s entry to India: CBIC Chairman

News Snapshot:

Even though the Interim Budget for 2024-25 did not make any change to import tariff structures, just two days ahead of it, the government had slashed customs duty on some smartphone components to 10 per cent. A top official of the Financial Ministry said that the primary reason behind the cuts was to “avoid disputes”. In an interview to The Indian Express, Sanjay Kumar Agarwal, Chairman of the Central Board of Indirect Taxes and Customs (CBIC), also said that there is currently no proposal with the Finance Ministry to review duty structures to facilitate Tesla’s entry to India, even as...