After Union Budget GST Council Reduce EV GST Rate 12% to 5%

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Govt In this month give 2019 to 2020 finance budget on that budget Govt hike the fuel cess which around 2 rs pl but on the Happier side Govt reduce GST on EV which is 12% to 5 % so that clearly show Govt want to boost EV Sales and make it affordable to the People and soon they are change their primary Car or Two wheeler which run on fossil fuel and after that GST council reduce the rate of GST so its get immediate impact on the present on sales EV prices which is reduce like Ather say they cut 8000 to 10000 in their scooter and Revolt ,Panasonic , Greaves Cotton , Genopai Electric which soon launch two product in India so they said to us the GST rate cuts really help to boost the EV sector in the Indian market and people get more affordable product range of EV which help to reduce emissions but Hero electric is less Happy than the other so they said After the reduced subsidies and duty changes in FAME 2, the price of affordable segment Electric vehicles had gone up by around 20%. Cuts in a GST rate really show the Govt interest for EV but its still expensive than IC segment so Govt should give more Subsidy on all the EVs which should be INR 20000/Kwhr of battery as it is for the buses; financing by Public sector banks; mandating businesses that use polluting vehicles for their operations to switch to electric and a major awareness campaign on the benefits of EVs by the Govt under “Swachh Bharat” initiative. The GST on the spares batteries is still 18% and that should also be brought down to 5% to ensure that the EV users continue to enjoy the low running cost advantage. so Hero give Govt very use full suggestion and many other manufactures are really concern about it but EV adoption is still done on a very very low amount so it should taken seriously by Govt to promote the EV sector .

 

 

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