Indian government looking to cut tax to encourage uptake of EVs
The Indian government is reportedly looking to cut goods and services tax (GST) on electric vehicles (EVs) by 5-12% to encourage their uptake, reports the Economic Times. "There is a proposal to cut tax rates on EVs among other issues," said a senior government official with knowledge of the matter. The government council will discuss the proposal in a meeting tomorrow (20 June).
Significance: Several measures, including tax cuts and incentives for EVs, are being contemplated by the government in line with its goal to expand the use of EVs in the coming years. Recently, the Niti Aayog policy think-tank proposed a new EV road map that suggested that all vehicles sold in India after 2030 should be electric. A reduction in GST would have the aim of boosting the manufacture of EVs in the country and encouraging key automakers to set up Indian vehicle production plants.
Read more articles like this one. Get a free trial to AutoIntelligence Daily
- AutoMobility LA Previews Continue
- AutoMobility LA 2019: Automakers focus on electrification, utility vehicles
- California tightens availability of EV credits
- EU expects to avoid US tariffs on cars
- Sales of electrically chargeable vehicles in EU grow 51.8%
- Japan looking to subsidise compact BEVs
- The UK passenger car market went into retreat again in October, falling by 6.7% year on year
- UK government considering green number plates to identify zero-emission vehicles
Press previews at the 2019 AutoMobility LA convention and auto show this week have included several reveals of auto… https://t.co/rZ9aqPaT20