India lowers taxes on electric vehicles and chargers to boost use

As the nation struggles with pollution, the government has decided to slash taxes on electric vehicles (EV) and chargers. Reuters reports that India reduced the goods and services tax (GST) on EVs and chargers to 5%, from the previous 12% and 18% respectively.

India also proposed tax waivers on the purchase of EVs and removed import taxes on some auto components. Finance minister Nirmala Sitharaman, when presenting the federal budget to parliament, said buyers of EVs will receive an income tax deduction of 150,000 rupees (RM9,036) on interest paid on loans taken.

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