GST Council to decide on tax cut on electric vehicles this week

Date posted: Wednesday 24 July 2019

The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on July 25 and decide on lowering tax rates for electric vehicles, officials said. The 36th meeting of the Council, which will happen through video conferencing, is also likely to decide the valuation of goods and services in solar power generating systems and wind turbine projects for the purposes of levying GST. The Council, which has state finance ministers as members, in its meeting last month, had referred the issue relating to Goods and Services Tax (GST) concessions on electric vehicle, electric chargers and hiring of electric vehicles, to an officers committee. To push domestic manufacturing of e-vehicles, the Centre proposed to the Council to slash GST rates to 5%from 12%. The recommendations of the officers committee is likely to be placed before the Council on 25 July, officials said.

(Live Mint)

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