GST reduction in EVs and charging stations
By MYBRANDBOOK
With the decision of government to lower the GST rates on EV’s and charging stations, Mr. Manish Sharma, President & CEO, Panasonic India & South Asia says,
“Lack of a proper infrastructure has been a major impediment in ensuring wide scale adoption of EV’s in India. The emphasis laid by the government to improve the electric mobility ecosystem in the country has seen yet another push with its decision to lower the GST rates from 12% to 5% on electric vehicles and 18% and 5% on the charging stations. This will not only provide the necessary impetus to EV adoption but also facilitate in strengthening the EV charging infrastructure in the country. The decision to exempt GST in the hiring of electric buses of carrying capacity of more than 12 passengers by the local authorities will give the necessary thrust in raising more awareness about EV’s. The landmark announcements will also help lay the foundation in creating a manufacturing ecosystem for the EV sector in India.”
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