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INDIA: Budget Cuts Duty on Electric Vehicle Parts and Increases Levy on Precious Metals

In a bid to promote the manufacture of electric vehicles in the country, the government has announced exemptions from the 10% Basic Customs Duty (BCD) for certain imported components, including e-drive assemblies, on-board chargers, e-compressors and charging guns. The change was announced as part of the country’s 2019 Budget and came into effect on 6 July.

The budget also saw BCD increased on a number of items, including certain auto parts and precious metals, with these hikes also coming into effect as of 6 July. These changes form part of a bid to curtail the level of non-essential imports and boost domestic production in line with the aims of the Make-in-India initiative.

Details of the amended duty rates most likely to affect Hong Kong exporters are listed in the table below, while the full list of revised rates can be accessed here.

Description of Goods/ProductsBCD before
6 July 2019
BCD effective
6 July 2019
Glass mirrors, including rear view mirrors10%15%
Car locks10%15%
Base metal fittings, mountings and similar items for use as vehicle hinges10%15%
Catalytic converters5%10%
Oil or petrol filters/air intake filters for internal combustion engines7.5%10%
Chassis fitted with engine10%15%
Precious metals (other than rhodium) unwrought or in semi-manufactured forms or in powder form or base metal clad with such metals10%12.5%
Silver doré bars (with silver content not exceeding 95%)8.5%11%
Gold doré bars (with gold content not exceeding 95%)9.35%11.85%
Indoor and outdoor split-system air conditioner units10%20%
Digital video recorders (DVR) and network video recorders (NVR)15%20%
CCTV cameras and IP cameras15%20%
Optical fibres, optical fibre bundles and cables10%15%
Charger/power adaptors for CCTV cameras/IP cameras and DVRs/NVRs0%15%

 

Content provided by Picture: HKTDC Research
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