What are the current initiatives being discussed by the GST council regarding tax cuts on electric vehicle batteries and charging
Exploring the potential tax cuts on electric vehicle components being deliberated by the GST council.
1. The GST council is considering potential tax cuts on electric vehicle batteries to incentivize the adoption of electric vehicles in India.
2. Discussions are underway to reduce the GST rates on EV batteries from the current rate of 18% to a lower percentage to make electric vehicles more affordable for consumers.
3. Another initiative being explored is the reduction of GST rates on electric vehicle charging infrastructure to promote the development of charging stations across the country.
4. The council is deliberating tax cuts on various electric vehicle components to boost the manufacturing and sales of electric vehicles in India.
5. These initiatives aim to accelerate the transition towards a more sustainable and environmentally friendly transportation system in the country.
Answered
5 months ago