The wait is over, here is the good news for EV industry, the 36th GST Council Meeting held today via Video Conference under the chairmanship of Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman. GST on EVs reduced on all Electric Vehicles reduced from 12% to 5% and of charger or charging stations for EVs from 18% to 5%.
GST on EVs reduced from 12 to 5% & charger or charging stations from 18 to 5%
The GST Council Meeting was attended by the Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Revenue Secretary Shri Ajay Bhushan Pandey and other senior officials of the Ministry of Finance.
The GST rate changes will effect from 1 August 2019.
The GST rate related changes in the supply of goods and services.
- GST rate on all-electric vehicles reduced from 12% to 5%
- GST rate on charger or charging stations reduced from 18 to 5%
- The hiring of electric buses ( capacity of more than 12 passengers) by local authorities be exempted from GST.
The last date for filing of intimation, in form GST CMP-02 for payment of tax, has been extended from July 31 to September 30.
The statement also included the last date for self-assessed tax in FORM GST CMP-08 for the quarter April 2019 to June 2019 ( by the taxpayers under composition scheme).
For the document GST Rate
The government is taking many initiatives for the adoption of electric vehicles in India. It has exempted the road tax for EVs and registration fees.
Recently it has also hiked the ICE vehicles registration fee as the people should feel discouraged using petrol and diesel vehicles and automatically should adopt electric vehicles.
It has increased 27 times renewal fee for commercial vehicles mostly on buses, trucks and other heavy vehicles. However, the cut on GST has put in relax to the EV manufacturers and EV buyers.
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