IESA submitted Budget expectations to MoF dated- 28.1.21. Few expectations from Budget 2021 mentioned in the enclosed letter are listed below
- GST reduction for batteries & charging / swapping: Suggested rate of 5%
- Duties for cells and supply chain components including raw and processed materials as well as manufacturing equipment: reduced rate to 5% minimum from higher duties
- Tax benefits (exemption of Charges & Duties) relaxation to Storage Projects
- Extension of Fame II incentivization
- Incentivise MSME sector and Start Up Eco system of Energy Storage and E-mobility
- Revenue Shortfall Scheme for Manufacturing Sector
- Government funds for domestic R&D Initiatives
- Institution for Energy Storage Technology Development
- Affordable EV retail financing
- Vehicle Scrappage Policy Incentives