Key amendments proposed in Union Budget 2024 in respect of auto sector

23 Jul 2024 PDF
Subject Alerts
Categories Direct Tax
Jurisdictions India

The key highlights are:

  • Proposal to extend exemption from BCD
  • Proposal to exempt critical minerals from Custom Duties
  • To promote the manufacture of batteries in India and encourage the PLI scheme for Advanced Chemistry Cell
  • Modification in certain tariff entries under First Schedule to the Customs Tariff Act, 1975, effective from 1 October 2024.

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