Duty exemption on import of biodiesel P&M planned

Duty exemption on import of biodiesel P&M planned: "MUMBAI, JULY 12: The Centre, in a serious bid to promote biodiesel, proposes to provide slew of concessions. The central government is actively considering exemption in customs duty on import of plant and machinery required for biodiesel production, waiver in excise duty on indigenous plant and machinery and extending research and development (R&D) tax incentives to biodiesel industry as in the case of pharmaceuticals and offer tax holidy for biodiesel manufacturing units for a minimum period of five years.
Moreover, the government is exploring an option of offering excise duty concession on the biodiesel-blended diesel on the lines of earlier policy on gasoline-ethanol blends to offset the extra cost incurred by oil companies"