New Delhi: In a major boost to the electric vehicles (EVs), Goods and Services Tax Council on July 27 slashed tax rates from current 12 per cent to 5 per cent. It will come into force from August 1. Since long, the government is emphasising on the environment-friendly vehicle to ensure a greener future.
In a council meeting, GST is also reduced on chargers or charging stations for electric vehicles from 18 per cent to 5 per cent.
The meeting was held through video conferencing, which was chaired by Finance Minister Nirmala Sitharaman. According to the reports, the Council also suggested the extension of last date filing of GST form to August 31.
India is the world`s third-biggest emitter of greenhouse gases. Experts believe this move will help in making EVs affordable. In a bid to promote electric vehicles, In her first Budget, Nirmala Sitharaman had proposed an income tax deduction of Rs 1.5 lakhs on interest paid on loans taken for EVs.
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