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Planning to buy e-vehicle? EV firms trim prices after GST breather
Union Finance Minister Nirmala Sitharaman had announced a reduction in GST on EVs from 12 per cent to 5 per cent in her maiden Budget Owning an electric car and two-wheeler will now be easier on the wallet. With a steep reduction in the GST (goods and service tax) rate taking effect, manufacturers of EVs […]
Getting into nuts and bolts of building electric vehicles to be next challenge
Component makers were expecting similar incentives to establish factories and do research and development work, as the volume of sales is negligible in the country at present Most traditional automobile manufacturers have stayed away from the electric two-wheeler segment NEW DELHI: Founders of electric vehicle (EV) startups in India have said that the raft of […]
GST rate on all Electric Vehicles reduced from 12% to 5% and of charger or charging stations for EVs from 18% to 5%
Hiring of electric buses by local authorities exempted from GST Changes in GST rates shall be effective from 1st August, 2019 The 36th GST Council Meeting was held here today Via Video Conference under the chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. The meeting was also attended by Union Minister of State […]
GST Council to decide on tax cut on EVs this week
New Delhi: The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on July 25 and decide on lowering tax rates for electric vehicles, officials said. The 36th meeting of the Council, which will happen through video conferencing, is also likely to decide the valuation of goods and services in solar power generating systems […]
5-fold rise in renewable workforce in 5 year: Study
New Delhi: India’s renewable energy workforce has grown five-fold in the past five years, according to a new report on Monday. In 2019, nearly 100,000 workers are employed in the solar and wind industry, up from 19,800 in 2014. Of these, 12,400 workers were employed in FY19 and 30,000 in FY18 by utility-scale solar, rooftop […]
Budget 2019: Makers of EVs welcome GST cut
In 2018, the state government had signed a memorandum with Energy Efficiency Services Limited (EESL) to procure 1,000 EVs in the first phase. Mumbai: The Union Budget 2019 includes reducing the Goods and Service Tax (GST) on electric vehicles from twelve to five per cent. While Maharashtra government is trying to procure electric vehicles (EV) […]
GST Reduced on Electric Vehicles
GST Reduced on Electric Vehicles – All the Upcoming EVs to Launch in India: Hyundai Kona, Maruti Wagon R EV & More Finance Minister Nirmala Sitharaman has announced the reduction of GST on electric vehicles from 12% to 5%. The Indian auto industry is set to witness a sea change as leading car companies across […]
Electric Vehicles To Get Major Boost As Govt Proposes GST Reduction, Tax Benefits
Total taxbenefits could go up to Rs 2.5 lakh for EV buyers GST on EVs set to go down from current 12 to 5 per cent. Buyers availing loans for EVs can save up to Rs 2.50 lakh on the interest rate, depending on their income tax bracket by the end of loan tenure. Govt […]
Auto industry gets an electric boost in FY20 Budget
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 […]