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
Latest posts by ET Energy World (Reuters Copy) (see all)
- India Cuts Tax Rate On Electric Vehicles To Boost Uptake - July 28, 2019
- Russia, OPEC May Ditch Oil Deal To Fight For Market Share: Russian Minister - April 14, 2019
- Political Turmoil Not Affecting South Sudan Crude Oil Flow – Minister - April 14, 2019