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Tax concessions on electric cars revised

The Finance Ministry had decided to provide tax concessions for electric cars with a one year usage.

The gazette notification pertaining to the decision will be issued today (15), Financial Ministry reports said.

Initially, Finance Minister decided to decrease the import tax levied on brand new Electric vehicles by Rs. 1 million through the recent budget.

However, vehicle importers have pointed out that the introduction of the new tax concession on Brand new electric Vehicles is not efficient.

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