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 […]
Pre-Budget quote | Mr. Amit Gupta, Director- Legal & Corporate Affairs, Vikram Solar
“Our expectation from the budget would be that it focuses on policy direction, rather than just on expenditure. The finance ministry should announce the road map to bring down corporate tax to 25% in the coming years. Minimum Alternate Tax (MAT) can be brought down for units operating in Special Economic Zones (SEZs) in order […]
GST Council to consider reducing tax on electric vehicles: Anurag Thakur
The GST Council will consider reducing tax on electric vehicles, which are seen as more environment-friendly, and the matter is pending before it. NEW DELHI: The GST Council will consider reducing tax on electric vehicles, which are seen as more environment-friendly, and the matter is pending before it, Minister of State for Finance Anurag Thakur […]
GST rate slashed to 12% on EV chargers; industry sees it as sentiment booster
The GST committee on Friday reduced GST on EV Charger from 18 per cent to 12 per cent. New Delhi: Union Minister of Finance Nirmala Sitharaman led goods and service tax (GST) council on Friday approved reduction GST on electric vehicle chargers to 12 per cent from 18 per cent earlier. However, no relief was […]
GST Council Meet: Tax on electric vehicles not reduced; fitment committee to take decision
As per Niti Aayog’s EV policy laid out in 2017, the country aims to phase out fossil-fuel-based auto-rickshaws by 2023, and scooters and motorcycles (150cc) by 2025 The high-powered GST Council on Friday did not reduce the tax rate on electric vehicles as anticipated. There were expectations that the tax on EVs would be reduced […]
Press release by 35th GST Council on 21st June 2019
Press release by 35th GST Council on 21st June 2019 For more information please see below link:
Tax Cut on Electric Vehicles Among Agendas of First GST Council Meet Led by Nirmala Sitharaman
GST rate for petrol and diesel cars and hybrid vehicles is already at the highest bracket of 28 per cent plus cess. The GST Council will consider slashing GST rate on electric vehicles to 5 per cent, from 12 per cent currently, along with an extension of the tenure of the anti-profiteering authority by a […]
India’s Electric Vehicle Push: These are the top auto firms taking the green route
Earlier this month, Tata Motors-owned Jaguar Land Rover said it has joined hands with BMW to develop next-generation electric drive systems. Maruti Suzuki is currently testing 50 electric WagonRs. Mahindra Electric Mobility, a part of the Mahindra group, is the pioneer of electric vehicle technology in the country. India’s electric vehicle (EV) push has gained […]
GST on electric vehicles may be reduced to 5%
Lower duties are expected to encourage global manufacturers to invest in India’s shift to e-vehicles. NEW DELHI: India may cut the goods and services tax (GST) on electric vehicles to 5% from 12% to provide a stimulus to the sector that’s a high priority for the Narendra Modi government. The GST Council is set to […]
Delhi High Court paves way to untangle GST knot for solar firms
A consultative meeting will be held with CBIC within the next four weeks for the solar power producers to put forward their grievances Solar power developers are hopeful of relief in GST rates after the Delhi High Court’s order directing authorities to redress their grievances. The court last week directed Central Board of Indirect Taxes […]
