- GST council slashes tax on electric vehicles
- Tax on electric chargers reduced as well
Just a few days after this step was presented in the budget, GST council has slashed GST on electric vehicles and electric chargers.
The electric vehicles were previously taxed at 12 per cent but now will be taxed at 5 per cent. The electric vehicle chargers will now be taxed at 5 per cent from the old 18 per cent. These tax cuts are bound to improve the overall sales of electric bikes and cars in the industry. In fact, this will now speed up the expansion of electric vehicle charging points and stations in the country.
EV makers like Hero electric, Okinawa, Ampere and soon-to-be launched Revolt RV400 are going to benefit the most. The cost of few other premium EVs like Ather 450 will come down by Rs 8000 to Rs 10,000.
