Tax incentives for road construction machinery

Tax incentives for road construction machinery

on Feb 26, 2010

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The certain specified construction machineries which are imported with full exemption from import duty can now be resold to other eligible road projects on repayment of import duty at depreciated value.
The Finance Minister Pranab Mukharjee while presenting the Union Budget 2010-11 announced that permission will be granted for ‘resale of specified machinery imported with full exemption from import duty for road construction projects’. The government has taken this decision to provide impetus to road construction activity.
The Finance Minister has also announced grant of project import status to ‘Monorail projects for urban transport’ at a concessional basic duty of five per cent. The government said this will strengthen the public transport system and reduce the dependence on fossil fuels.

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