Home Tag "GST"

Getting into nuts and bolts of building electric vehicles to be next challenge

Component makers were expecting similar incentives to establish factories and do research and development work, as the volume of sales is negligible in the country at present Most traditional automobile manufacturers have stayed away from the electric two-wheeler segment NEW DELHI: Founders of electric vehicle (EV) startups in India have said that the raft of […]

GST rate on all Electric Vehicles reduced from 12% to 5% and of charger or charging stations for EVs from 18% to 5%

Hiring of electric buses by local authorities exempted from GST Changes in GST rates shall be effective from 1st August, 2019 The 36th GST Council Meeting was held here today Via Video Conference under the chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The meeting was also attended by Union Minister of State […]

GST Reduced on Electric Vehicles

GST Reduced on Electric Vehicles – All the Upcoming EVs to Launch in India: Hyundai Kona, Maruti Wagon R EV & More Finance Minister Nirmala Sitharaman has announced the reduction of GST on electric vehicles from 12% to 5%. The Indian auto industry is set to witness a sea change as leading car companies across […]

Auto industry gets an electric boost in FY20 Budget

Finance Minister Nirmala Sitharaman’s maiden Budget provides tax incentives and GST cuts for electric vehicles. ‘The future is electric,’ reiterates the Union Budget 2019-20. In her maiden Budget speech on Friday, Finance Minister Nirmala Sitharaman announced an income tax deduction of ₹1.5 lakh on loans for electric vehicles to incentivise their purchase. The loan is […]