New Delhi, Oct 4: The fitment committee of the Goods and Services Tax (GST) Council, at a meeting held on Wednesday, rejected the industry request for reducing the GST rate on lithium-ion batteries for electric vehicles from 18 per cent to 5 per cent.
According to sources, the reason for not reducing the levy is that apart from electric vehicles, lithium-ion batteries are also used in multiple other products including mobile phones and portable electronic goods.
