Union Budget 2019: Electric Two-Wheeler Manufacturers Welcome Announcements

The electric vehicle segment in the Indian auto sector has welcomed the announcements to give tax incentives on loans for EVs, as well as GST reduction on electric vehicles.

The government has offered exemption of income tax worth Rs. 1.5 lakh on loans taken for buying electric vehicles.

The Union Budget for 2019 has been announced and Finance Minister Nirmala Sitharaman made a number of promises for the overall development of the country's economy. While there haven't been major incentives for conventional vehicles in the auto sector, the government has recommended changes to the Goods Services Tax (GST) council for electric vehicles (EVs) reducing t...

Reduced GST rates will also help with better return-on-investment, making our market more lucrative for luxury carmakers.

EV makers have asked to bring EVs under the 5 per cent GST bracket and to reduce import duties on EVs and components used to assemble electric vehicles.

Industry Body and automakers have high hopes from the upcoming budget session which can help the industry to recover from the current slowdown.

SIAM has demanded reduction in GST rates and 200 per cent weighted reduction in R&D expenses which can help the industry to recover from a slowdown.

Former Union Minister Arun Jaitley today said the Goods and Services Tax -- the flagship reform of the Modi 1.0 government which completes two years today -- has been both consumer and assessee friendly. The transformation has proved "one of the smoothest". That it was "politically safe" was proved by the BJP's performance in Gujarat, particularly Surat, which had see...

Luxury cars are often under scrutiny for being extravagant purchases, which has resulted in the cars attracting the highest taxation. However, Jaguar Land Rover India's President and Managing Director, Rohit Suri believes that the government should stop classifying luxury cars as sin goods and reduce the tax burden on such vehicles. In a statement made to PTI, the JLR...

The new Goods and Services Tax return filing system will enable traders to file returns in a single format once a month instead of multiple formats, Bihar deputy chief minister Sushil Modi, who heads the Group of Ministers (GoM) to look into revenue shortfall after the GST roll-out said on Saturday.

A simple shop selling 'kachoris' in Uttar Pradesh's Aligarh has left the commercial tax sleuths astounded.

The GST Council will consider reducing tax on electric vehicles, which are seen as more environment-friendly, and the matter is pending before it, Minister of State for Finance Anurag Thakur informed the Lok Sabha on Monday.

The automotive industry is currently facing a daunting challenge of a deep slowdown that urgently needs some form of stimulus from the Government to supplement the efforts being made by the industry in reversing the industry fortunes towards positive performance.

With the arrest of four men and unearthing of six fake firms, the Special Task Force of the Uttar Pradesh Police Friday claimed to have busted a GST evasion racket of nearly Rs 60 crore.