India Cuts Tax Rate On Electric Vehicles To Boost Uptake


India Cuts Tax Rate On Electric Vehicles To Boost Uptake

India on Saturday slashed taxes on electric vehicles and chargers, as it looks to encourage the use of more environmentally friendly cars.

The goods and services tax (GST) on electric vehicles and chargers was reduced to 5% from a previous 12% and 18% respectively, India’s finance ministry said in a statement. The government had earlier this month given tax breaks in the federal budget for consumers buying electric vehicles.

Saturday’s decision to slash the tax was taken at a meeting of the GST council chaired by India’s Finance Minister Nirmala Sithraman in New Delhi. Read more

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