Tag Archives: Slashed tax rates of electric vehicles

Slashed tax rates of electric vehicles

Slashed tax rates of electric vehicles

The decisions are in line with the government’s latest budget announcements to promote electric vehicles (EVs) and to reduce carbon footprints. In this landmark, the GST council brought down the GST rate on EVs to 5 % from 12 %. The move has come as a shot in the arm for the auto industry which has been pushing for a tax boost to promote the sale of EVs. This aimed at accelerating the adoption of eco- friendly mobility solutions which will be effective from August 1, 2019. Additionally, the tax rate on chargers or charging stations for EVs has been … Read more