Electric Vehicle – GST Decreased On Electric Vehicles
Electric Vehicle: GST Council made a big decision to promote electric vehicles in the country. Know what a GST Council made such a big decision
GST Council has reduced electric vehicles from 12 percent to 5 percent GST. In addition to this, GST Council has made five percent GST on electric vehicles charger or charging station. Similarly, Prime Minister Narendra Modi has fulfilled his promise of electric vehicles. GST Council will introduce the new rate of GST on electric vehicles on August 1.
In the 36th meeting of the GST Council, under the chairmanship of Union Finance Minister Nirmala Sitharaman, it was decided that the rate of GST on electric vehicles will be reduced from 12% to 5%. This decision will be implemented from first August.
The Modi government has reduced GST from 12 percent to 5 percent, not only on electric vehicles but also on chargers and charging stations. The process of adoption of electric vehicles through this step is increasing rapidly. This was a long demand on electric vehicles. Because of this, the electric vehicle sector got a substantial boost.
Government of India
Government of India has declared its clean intentions by reducing GST on electric vehicles. This is an important step for the most. We welcome 5% reductions in GST on electric vehicles. Because of this, the distance between the electric vehicle and the IC engine will be reduced. With the reduction of GST, the National Electric Vehicle will give a big boost to the policy. The electric vehicle industry is now hoping to reduce the 18% GST on batteries, which will reduce the lifetime on the prices of electric vehicles.
The Council also decided to reduce the GST rate from 18 percent to five percent at the charging station of electric vehicles and this decision will be effective from 1st August. The meeting of GST Council was to be held on Friday, but due to some engagement of Sitharaman during the Parliament session, the meeting was postponed in the last minute.
Electric Vehicle – GST Decreased On Electric Vehicles – Guju News