Dynamite News GST rate on electric vehicles cut from 12 to 5 pc from Aug 1
The Goods and Services Tax (GST) Council on Saturday recommended a reduction in GST rate on all electric vehicles from 12 per cent to 5 per cent.
New Delhi: The Goods and Services Tax (GST) Council on Saturday recommended a reduction in GST rate on all electric vehicles from 12 per cent to 5 per cent.
It also recommended a reduction in GST rate for charger or charging stations from 18 per cent to 5 per cent. The hiring of electric buses with a seating capacity of more than 12 passengers by local authorities should be exempted from GST, the council said.
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— ANI (@ANI) July 27, 2019
These changes will be effective from August 1, according to an official statement. India is making a big push for electric vehicles to control pollution and take a lead in the emerging industry. The government wants to have only electric three-wheelers operating in the country by 2023 and only electric two-wheelers by 2025.
The council meeting was presided over by GST Council Chairperson and Finance Minister Nirmala Sitharaman.
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In other decisions, the council said the last date for filing of intimation in Form GST CMP-02 for availing the option of tax payment has been extended from July 31 to September 30.
Besides, the last date for furnishing statement containing details of self-assessed tax in form GST CMP-08 for April to June quarter by taxpayers under composition scheme has been extended by a month to August 31. (ANI)