SMEV exhorts government to reduce tax on lithium batteries
New Delhi: The Society of Manufacturers of Electric Vehicles (SMEV), the nodal body of electric vehicle makers in India, has urged the government to reduce the goods and services tax (GST) on batteries used in electric vehicles to 12%—equivalent to the GST rate charged on electric vehicles—from the current tax rate of 28%.
SMEV thinks an unreasonably high GST is one of the key impediments to faster adoption of electric vehicles in the country.
According to Sohinder Gill, director, corporate affairs, SMEV, reduction in GST is critical to achieve targets set under the government’s Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles policy rolled out two years back.
“To support the government’s ambitious vision of selling only e-vehicles in the country by 2030, and to help the industry grow at a faster pace, SMEV expects the government to take immediate remedies and proactive measures,” said Gill.
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