Budget 2025 expectations: EV industry seeks 5% uniform GST, incentives for domestic battery manufacturing
3 days, 21 hours ago

Budget 2025 expectations: EV industry seeks 5% uniform GST, incentives for domestic battery manufacturing

Live Mint  

Budget 2025 Expectations: Ahead of the Union Budget 2025, scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1, the electric vehicle industry expects the simplification of Goods and Services Tax and an inverted GST structure on raw materials. Budget 2025: Uniform GST According to Dinkar Agrawal, Founder, CTO & COO of Oben Electric, a 5 per cent GST must be applicable across all EV components. “Simplifying the GST structure with a uniform 5 per cent tax across EVs, components, and charging infrastructure is essential to reducing costs and fostering growth,” Agrawal said. Budget 2025: PLI schemes According to Agrawal, the government must promote domestic EV battery manufacturing capabilities in the country by introducing performance-linked incentive schemes.

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History of this topic

FICCI electric vehicle chief calls for tax cuts on batteries, charging services to boost affordability
1 month, 3 weeks ago

FICCI electric vehicle chief calls for tax cuts on batteries, charging services to boost affordability

Live Mint  

Sulajja Firodia Motwani, chairperson of the Electic Vehicle Committee at the Federation of Indian Chambers of Commerce & Industry, said Tuesday that reducing the Goods and Service Tax on EV batteries and charging services is crucial for keeping electric vehicles competitive in the market. Motwani said the current GST on charging services is 18 per cent, and she called for …

Electricity under GST purview
1 year ago

Electricity under GST purview

Deccan Chronicle  

New Delhi: The inclusion of electricity within the goods and services tax framework may be a reality soon as the government is exploring all the options in this regard. “As the power ministry is well aware of its potential effects, especially on the revenue loss for the industry, state revenues, and household electricity expenses, the Centre and states are jointly …

Government Explores Inclusion of Electricity in GST Framework
1 year ago

Government Explores Inclusion of Electricity in GST Framework

Deccan Chronicle  

New Delhi: The inclusion of electricity within the goods and services tax framework may be a reality soon as the government is exploring all the options in this regard. “As the power ministry is well aware of its potential effects, especially on the revenue loss for the industry, state revenues, and household electricity expenses, the Centre and states are jointly …

Budget 2023: Cheaper EVs as FM Sitharaman extends subsidy on electric batteries
1 year, 11 months ago

Budget 2023: Cheaper EVs as FM Sitharaman extends subsidy on electric batteries

Hindustan Times  

By removing the custom duty on capital goods/machinery for manufacture of lithium-ion cell in batteries of electric vehicles and extending the subsidy on electric batteries for one more year, finance minister Nirmala Sitharaman gave a significant push for EVs by making it cheaper. She announced in her Budget speech at the Parliament on Wednesday that the concessional duty on lithium-ion …

Budget 2023-24 Expectation: Lithium-ion battery sector hopes for 5% GST cut from 18% on battery packs and cells
1 year, 11 months ago

Budget 2023-24 Expectation: Lithium-ion battery sector hopes for 5% GST cut from 18% on battery packs and cells

Firstpost  

Since the electric vehicle industry is one of the major consumers of Li-ion batteries, both the EV and Li-ion battery manufacturing ecosystems are interrelated to a great extent in India The lithium-ion battery manufacturing industry is one of the prominent commercial industries in India. Future opportunities for sector Future opportunities for India’s lithium-ion battery market are likely to arise from …

Budget 2023: How govt can support India's clean energy vision
1 year, 11 months ago

Budget 2023: How govt can support India's clean energy vision

India Today  

India has always been committed to increasing its share in the Renewable Energy space, mainly on account of its efforts to decrease dependency on fossil fuels and also due to its vulnerability to climate change. B) Extend the beneficial tax regime: Corporate income-tax rate of 15%2 is applicable to companies incorporated post October 2019 and who commence power generation by …

Budget 2023-24 Expectation: EV industry aspires reduction in GST, extension of FAME II subsidy
1 year, 11 months ago

Budget 2023-24 Expectation: EV industry aspires reduction in GST, extension of FAME II subsidy

Firstpost  

The upcoming budget is an opportunity for the government to take further steps to support the growth of the industry and make electric vehicles more accessible to Indian consumers Envision a world where Indian streets are filled with the tranquil noise of electric vehicles running on clean energy. With the program set to expire in March 2024, the industry is …

GST on Curd, Lassi, Other Items from July 18: What Becomes Cheaper, What Becomes Dearer?
2 years, 6 months ago

GST on Curd, Lassi, Other Items from July 18: What Becomes Cheaper, What Becomes Dearer?

News 18  

Towards the end of June, the GST Council chaired its 47th meet under the leadership of finance minister Nirmala Sitharaman, where a slew of decisions were taken regarding the levy of Goods and Service Tax on various items. – The GST Council also decided to bring hotel rooms under Rs 1,000 per day under the 12 per cent GST slab, …

In draft battery swapping policy, NITI Aayog proposes slashing GST, incentives
2 years, 8 months ago

In draft battery swapping policy, NITI Aayog proposes slashing GST, incentives

Hindustan Times  

NEW DELHI: Government think tank NITI Aayog on Thursday proposed a draft policy to encourage rapid expansion of battery-swapping infrastructure to boost sales of electric two-wheelers and three-wheelers in the country. Battery swapping is an alternative to vehicles sold with fixed batteries and allows people to exchange discharged batteries with charged ones rather than getting them charged The draft battery-swapping …

Tesla in India: No Tax Cut if No Manufacturing, Says Govt
2 years, 11 months ago

Tesla in India: No Tax Cut if No Manufacturing, Says Govt

News 18  

The government on Tuesday questioned electric car company Tesla’s business practices, of seeking tax breaks to use the Indian market to sell its products, but not wanting to set up manufacturing facilities in the country which can generate thousands of jobs. Our Prime Minister has a vision for all such foreign companies, if you want to sell your product in …

Govt looking at GST reduction for automotive industry: Prakash Javadekar
4 years, 4 months ago

Govt looking at GST reduction for automotive industry: Prakash Javadekar

India Today  

Union Minister Prakash Javadekar today said that the government is looking at a reduction of the Goods and Services Tax for the automotive industry. Assuring that he will speak to the Prime Minister about GST reduction on automobiles, Heavy Industries and Public Enterprises Minister Javadekar said that the government is working with all stakeholders on ways and means to boost …

GST Council Meet: No respite for ailing auto sector, automobiles still under 28 per cent tax slab
5 years, 3 months ago

GST Council Meet: No respite for ailing auto sector, automobiles still under 28 per cent tax slab

India Today  

The Goods and Services Tax Council, headed by Finance Minister Nirmala Sitharaman, today maintained a status quo on the tax rate on automobiles in its 37th meeting held in Goa. The decision to not lower the tax rate comes as a major blow to the sector, which has been demanding a rate cut on automobiles from the current 28 per …

GST Council may review rates on auto sector
5 years, 3 months ago

GST Council may review rates on auto sector

The Hindu  

The Goods and Services Tax Council is likely to discuss the viability of a tax rate cut for the automobile sector, easing the annual return filing procedure for small businesses and possibly rationalise the two different rates on lotteries at its 37th meeting to be held in Goa on Friday, according to tax analysts. “The auto industry is demanding a …

GST Council reduces tax rates on electric vehicles and chargers to 5% from 12%; EV makers welcome duty cut
5 years, 5 months ago

GST Council reduces tax rates on electric vehicles and chargers to 5% from 12%; EV makers welcome duty cut

Firstpost  

In the Union Budget 2019-20, the government provided additional income tax deduction of Rs 1.5 lakh on the interest paid on loans taken to purchase Electric Vehicles. In a much-anticipated and welcome move, the 36th GST Council Meeting on Saturday decided to reduce the tax rate on electric vehicles to 5 percent from the existing 12 percent. Hailing the reduction …

India readies plan for $4 billion Tesla-scale battery storage plants
5 years, 5 months ago

India readies plan for $4 billion Tesla-scale battery storage plants

Live Mint  

New Delhi: India is putting the final shape on a plan to build at least four Tesla-style giga factories to manufacture batteries with an investment of around $4 billion, as the country prepares to switch to electric vehicles to curb pollution and cut its dependence on foreign oil. “Why should India import battery storage units when we have the largest …

GST Council meet today: E-vehicles tax cut should at least be 7%; awareness needed like govt campaigns for Swachh Bharat, say sector experts
5 years, 5 months ago

GST Council meet today: E-vehicles tax cut should at least be 7%; awareness needed like govt campaigns for Swachh Bharat, say sector experts

Firstpost  

The GST council, chaired by Finance Minister Nirmala Sitharaman, will meet today and decide on lowering tax rates for electric vehicles In a bid to encourage the manufacture and adoption of electric vehicles in India, the government instructed the Goods and Services Tax council to reduce GST on electric cars from 12 percent to 5 percent in the Union Budget. …

GST Council to decide on tax cut on Electric Vehicles this week
5 years, 5 months ago

GST Council to decide on tax cut on Electric Vehicles this week

India TV News  

The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on July 25 and decide on lowering tax rates for electric vehicles, officials said. The 36th meeting of the Council, which will happen through video conferencing, is also likely to decide the valuation of goods and services in solar power generating systems and wind turbine projects for the purposes …

Budget 2019: Government to provide additional incentives for electric vehicles
5 years, 6 months ago

Budget 2019: Government to provide additional incentives for electric vehicles

India TV News  

Followed with the Budget 2019, the government has announced new tax benefits to make purchasing of Electric Vehicles and e-vehicles easier for buyers. According to Finance Minister Nirmala Sitharaman's speech, the government has asked the GST council to lower the GST rate on electric vehicles from existing 12 per cent to 5 per cent. Also, read: Nokia 9 PureView with …

Budget 2019: GST on electric vehicles reduced to 5 per cent, buyers to get Rs 1.5 lakh tax benefit
5 years, 6 months ago

Budget 2019: GST on electric vehicles reduced to 5 per cent, buyers to get Rs 1.5 lakh tax benefit

India Today  

For all those who have been wanting to buy an electric vehicle, there is a piece of good news. While presenting the Union Budget 2019, Finance Minister Nirmala Sitharaman announced that there will be an additional tax benefit of Rs 1.5 lakh on the interest paid on the loans taken for the purchase of the electric vehicles. Also, to make …

Union Budget 2019: ACMA pitches for uniform GST rate of 18% on all auto components as part of measures to support sector
5 years, 6 months ago

Union Budget 2019: ACMA pitches for uniform GST rate of 18% on all auto components as part of measures to support sector

Firstpost  

New Delhi: Automotive component industry body ACMA on Thursday asked the government to ensure a uniform GST rate of 18 percent on all auto components as part of measures to support the sector that is going through a downturn. He further said, “the auto component industry, being an intermediary, has recommended a uniform GST rate of 18 percent on all …

Budget 2019: Electric vehicle makers' body SMEV seeks Rs 20,000 cr in next two years to promote EVs in the country
5 years, 11 months ago

Budget 2019: Electric vehicle makers' body SMEV seeks Rs 20,000 cr in next two years to promote EVs in the country

Firstpost  

Electric vehicle makers’ body SMEV Wednesday sought an allocation of Rs 20,000 crore in the next two years for promoting EVs in the country and also urged the government to impose a “notional green cess” on conventional vehicles in the upcoming interim Budget to fund the drive New Delhi: Electric vehicle makers’ body SMEV Wednesday sought an allocation of Rs …

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