https://www.taxtmi.com/news?id=68878 The agreement excludes duty concessions for passenger cars retailing below roughly Rs 25 lakh and confines duty liberalisation to higher-priced vehicles through annual, price banded quotas and phased duty reductions. Separate quotas are set for ICE vehicles and EVs, with no concessions at the lowest bands, initial duty reductions for mid and high bands, and a progressive move toward a 10% duty level by year five. CKD imports get a specific reduced-duty 75,000 unit stream (later adjusted), no SKD concessions, annual quota caps under three lakh units, and staged quota increases to encourage local assembly and supply chain development. en-us Wed, 28 Jan 2026 19:16:03 +0530 Wed, 28 Jan 2026 19:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=68878 The agreement excludes duty concessions for passenger cars retailing below roughly Rs 25 lakh and confines duty liberalisation to higher-priced vehicles through annual, price banded quotas and phased duty reductions. Separate quotas are set for ICE vehicles and EVs, with no concessions at the lowest bands, initial duty reductions for mid and high bands, and a progressive move toward a 10% duty level by year five. CKD imports get a specific reduced-duty 75,000 unit stream (later adjusted), no SKD concessions, annual quota caps under three lakh units, and staged quota increases to encourage local assembly and supply chain development. News - Wed, 28 Jan 2026 19:16:03 +0530 https://www.taxtmi.com/news?id=68878