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GST Council reduces tax on electric cars

The GST Council has reduced the tax on electric cars from 12% f to 5%. The Council also approved the exemption of GST on the hiring of electric buses by local self-governments. The new decision will certainly boost the electric vehicle industry in the country.

The GST Council has also reduced the GST on the charger. The GST on EV chargers has been reduced to 5%. At present it 18%. The decision was taken unanimously. The new tax tariff will be actualized on August 1.

In the Union Budget also some exemption has been declared for electric vehicles. An income tax exemption of 1.5 lakh was declared for those who take a bank loan to purchase electric cars.


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