- The GST Council’s decision to maintain a 5% tax rate on electric vehicles (EVs) has reassured manufacturers, including luxury carmakers, who feared higher taxes. This move is seen as a commitment to sustainable mobility and policy stability, encouraging the adoption of EVs in India. However, EV makers now face competition from small petrol and diesel cars, which have a lower 18% tax rate.
Source: business-standard.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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