Government To Impose Tax On Two-Wheelers To Subsidise Electric Vehicles
The Government to impose a tax on two-wheelers of Rs 800-1000 on Petrol powered two-wheelers to subsidies million electric two-wheelers on road in upcoming 2-3 years. Government To Impose ‘Green cess’ on Petrol-based Motorcycles and Scooters to incentivize the Electric two-wheelers.
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Government To Impose Tax On Two-Wheelers
As India is the largest two-wheeler market globally which has sales of about 21 million on two-wheelers in 2018. “Today, the price differential between petrol and an electric two-wheeler stands at Rs 55,000-60,000, the incentive will help promote widespread usage of electric two-wheelers and thereby address the concerns about rising crude oil imports and vehicular pollution.
Hero MotoCorp, Bajaj Auto, TVS Motor Urged Government To Cut Down GST On Two-Wheelers
Worth mentioning here is that the idea to levy green cess comes at a time when several two-wheeler makers such as Hero MotoCorp, Bajaj Auto and TVS Motor Company have urged the government to cut Goods & Services Tax (GST) rate on motorcycles and scooters. Also, prices of all two-wheelers will see a jump post implementation of Bharat Stage VI standards.
SMEV Director General, Sohinder Gill Says
Sohinder Gill, director general, Society of Manufacturers of Electric Vehicles (SMEV) “There is now a convergence of views as far as the various government departments involved are concerned. If promoted properly, we can quickly bring on the road a million two-wheelers. And once the critical mass is attained, component makers will quickly start investing and manufacturing locally.”
Government To Levy Fee RS 12,000 On Purchase Of Petrol, Diesel Cars
Previously Government had planned to levy a fee of RS 12,000 as polluter pay on every purchase of petrol and diesel cars so that the funds can be raised for subsiding the EVs.
Government as head taken an initiative in many of the areas such as deploying EVs in the Finance and Ministry department, Installed 28 charging stations at necessary points, allotment 20% parking space for charging an EV in residents and commercials areas, Launched electric buses in TSRTC, etc, now moving ahead a with a new decision to raise funds for the subsidy of electric two-wheeler to move on road.
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