SIAM hails govt’s move to cut GST rate on electric vehicles, chargers

Auto industry body SIAM on Saturday said there is a need for a long-term unambiguous electric vehicles (EVs) road map while welcoming reduction in GST on EVs and chargers and reiterated the need for government intervention to stimulate demand to enable the auto industry to overcome the current slowdown.

Reacting to the GST council decision to reduce GST rate on EVs from 12 per cent to 5 per cent and EV chargers to 5 per cent from 18 per cent, Society of Indian Automobile Manufacturers (SIAM) President Rajan Wadhera said, Over the years, this will help popularise electric vehicles and increase penetration in the country.