Mahindra

GST on Electric Vehicles to be dropped down from 12% to 5%

Mahindra

The request made by the Indian government to cut down the GST on electric vehicles from 12% to 5% during Union Budget 2019, will now be taken up by GST Council that will hear the proposal on July 25.

Furthermore, the customers will get an additional income tax rebate of Rs 1.5 lakh on the interest paid on loans for the purchase of EVs. The move is a part of NDA government’s bigger plan to promote green energy and save fossil fuels.(Source)

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