Govt planning a reduced GST on lithium-ion batteries to boost the EV industry
Shortpedia
Content Team
Image Credit: money control
In another boost to the sustainable mobility business in India, the government is reportedly planning to cut the goods and services tax (GST) on lithium-ion (Li-ion) batteries from the current rate of 18%. The plan is to bring the GST rate down, keeping parity with the taxes on electric vehicles (EVs). Currently, the Li-ion batteries are taxed at 18% and the GST rate for EVs stands at 5%.
