Home Tag "GST"

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 […]