GST Council Retains 5% Tax Slab For All EVs

The council also clarified that all categories of electric vehicles, whether mass-market or luxury, will continue to attract a GST rate of 5%, with no additional cess

The retention comes as a major respite after reports suggested that the GST council was considering bringing premium EVs under higher tax slabs

As per Inc42 data, the Indian EV market is projected to become a $132 Bn opportunity by 2030

In a major relief for electric vehicle (EV) manufacturers and buyers,…