GST council to decide tax
The government’s massive push to reduce the pollution amounts in the country, the State of Odisha to introduce electric buses in the urban areas of the state.
Massive EV push-Odisha launching E-buses & GST council to decide tax cut on July 25
The Science and Technology Minister, Ashok Chandra Panda said that these electric buses will run in the temple town of Puri along with the city of Bhubaneswar and Cuttack in the first phase.
The State government is planning to remove the conventional transportation system by deploying electric buses. These will run-up to a range of 100 km which can cover the cities of Puri, Bhubaneswar, and Cuttack he said.
Very soon MoU of understanding will be signed for this proposal. Recently, the budget was presented by the Finance Minister in the parliament announcing the reduction in the GST slab and incentives on the taxes loan paid on the purchase of electric vehicles.
Along with this incentive for the three and four-wheelers are being provided under the Rs 10,000 crore FAME II scheme. These also extended to personal use as well.
GST council to decide tax cut on EVs
The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on July 25. The meeting will discuss reducing the tax rates, chargers, and hiring of electric vehicles.
The meeting will happen through a video conference. Initially, the proposal was made to cut the rate on EVs to 5% from 12% and on chargers to 5% from 18% and on hiring to 5% from 18%.
If everything goes well and if a decision is taken to lower the GST rate then this will be the massive boost to the electric vehicles this month.
Recently, the Finance Ministers announced that to make EVs affordable to consumers, the government will give an additional income tax cut of ₹1.5 lakh on the interest paid on loans taken for their purchase.
Let us hope and wait for our Finance Minister to take a supportive decision on tax cut on EVs.
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