GST rate on all Electric Vehicles reduced from 12% to 5%

Speed Post News Network

New Delhi : The 36th meeting of GST Council held here on July 27, 2019, Via Video Conference under the chairmanship of Union Finance & Corporate Affairs Minister Nirmala Sitharaman, reduced the GST rate on all electric vehicles from 12% to 5%. The GST rate on charger or charging stations for Electric vehicles was reduced from 18% to 5%.

The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Anurag Thakur besides Revenue Secretary Ajay Bhushan Pandey and other senior officials of the Ministry of Finance. Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities will  be exempted from GST.

These changes shall become effective from August 1, 2019, according to a PIB release.