New Delhi, Feb.26 (ANI): 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. (ANI)