Govt slashed GST on Electric vehicles from 12% to 5%
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In a bid to boost adoption of electric vehicles, GST Council slashed GST on electric vehicles (EVs) to 5% from 12% and also reduced the GST on EV chargers from 18% to 5%. The hiring of Electric Buses by local authorities has been approved by the council. This new rates will be effective from 1st August 2019. The Finance minister had announced sops in income tax for those who take loans for electric vehicles.