Budget 2024 LIVE updates: Auto sector’s expectations from Sitharaman

As per Gyanendra Tripathi, Partner & Leader, Western Region, Indirect Tax, BDO India, the EV industry has been sending representations seeking a reduction in the GST rate on parts/ components used in EV manufacturing (18/28% GST), and on batteries (18% GST) to 5%.

“The industry is also looking for an extension of FAME subsidies, clarity of tax treatment on EV charging, eligibility of ITC on setting up of the charging stations, and a GST rate reduction on entry-level two-wheelers,” Tripathi tells Mint.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *