Mahindra To Launch Three Electric Vehicles By 2021

The FAME II (Faster Adoption and Manufacturing of Electric Vehicles) scheme came as reassurance for electric carmakers and reaffirmed that EVs are at the top of the government's agenda. Furthermore, Niti Aayog's proposal to impose a ban on combustion engine powered commuter motorcycles (below 150cc) and then the budget council moderating GST rates on EVs and promising...

Speaking at Mahindra Group's 73rd annual general meeting, Anand Mahindra suggested certain temporary measures that would have a positive impact on the industry. Short term measure like - reduction or removal of the goods and service tax (GST), revising the registration fee, and reduction of road tax, as short term measure to help revive the auto industry.

Gurgaon-based Okinawa Autotech has announced a price cut across its electric scooter range post GST rate revision for electric vehicles. The Okinawa range powered by the Lead Acid battery is affordable by Rs. 2,500-4,700, while the models using a Lithium-ion battery get a price cut between Rs. 3,400-8,600. Under the new rates, EVs are charged five per cent GST instead...

After denting the auto sector's profitability, the consumption slowdown along with the upcoming shift to BS VI standards will further decelerate production, leading to eventual job losses. Industry insiders point out that slowdown, which is a culmination of high GST tax rates, farm distress, stagnant wages and liquidity constraints, has led to the month-on-month sales...

The government recently announced a reduction in GST rates on electric vehicles in a bid to push faster adoption of EVs, and this has prompted automakers to pass on the benefits to customers. The latest to join the cause is Tata Motors, which has announced a price reduction of Rs. 80,000 on the Tigor EV. The new GST rate for EVs stands at five per cent as opposed to t...

Hyundai has reduced the price of the Kona from Rs. 25.3 lakh to Rs. 23.71 lakh on account of the government reducing the GST rates on electric vehicles. Hyundai has received about 152 bookings in 20 days for the Kona.

GST receipts in June had fallen below Rs 1 lakh crore for the first time in the current financial year to Rs. 99,939 crore.

The Ather 340 and the 450 get a price reduction by up to Rs. 9000 on the on-road prices. The price drop comes with the change in the GST rates for EVs that now stands at five per cent instead of 12 per cent, applicable from August 1, 2019.

A year after the worst floods in almost a Century, Kerala has become the first state to impose an additional cess. Starting August 1, Kerala will be implementing 1 per cent Flood Cess, apart from the Goods and Services Tax (GST), with the aim to generate funds for rebuilding the state.

State Bank of India or SBI has decided to do away with IMPS (Immediate Payment Service) charges for its internet banking, mobile banking and YONO (You Only Need One) customers.

Government's proposal comes at a time when the auto industry has been witnessing decline in sales and automakers are demanding reduction in GST rates to uplift sales.

It also slashed the Goods and Services Tax (GST) on EV chargers from 18 per cent to 5 per cent, an official statement said after the 36th meeting of the council.

The GST or Goods and Services Tax Council on Saturday decided to reduce the rates applicable to electric vehicles (EVs) and the chargers used for such vehicles. In a statement released after the conclusion of its 36th meeting, the GST Council said it had decided to revise the rates applicable to electric vehicles and electric vehicle chargers to 5 per cent each with e...

The centres demanded the finance minister to either scrap the 18 per cent GST on coaching education or reduce it to the lowest GST slab, said Lalit Maheshwari, an official at Allen Career Institute, Kota.