GST Council to reduce GST Rate on Electrical Vehicles from 12% to 5%
In a bid to promote electric mobility, the GST Council has decided to reduce GST Rate on Electrical Vehicles from 12% to 5% and on charger or charging stations for Electric vehicles from 18% to 5%. The new rates will come into effect from the 1st of August 2019. The Council also approved an exemption from GST on the hiring of Electric Buses by local authorities. Finance Minister Nirmala Sitharaman held the meeting through video conferencing. This is the first GST Council meeting after the presentation of 2019 Union Budget in Parliament on 5th of July.
Topics: Charging stations • Electric bus • Electric vehicle • Electric vehicles • Goods and services tax • Government of India • Ministries • Modi administration • Nirmala Sitharaman • Taxation in India
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