Electric ambitions

EV adoption requires supporting eco-system

Last week, the government added heft to its policy to promote electric vehicles (EVs) by slashing the goods and services tax (GST) on them from 12 to 5 per cent and on chargers from 18 to 5 per cent with effect from August 1. It has also exempted from the GST the hiring of electric buses by local authorities with a carrying capacity of more than 12 people. These come soon after a tax break in the Budget providing an additional income tax deduction of Rs 1.5 lakh on interest paid on loans to buy EVs. Both seek to augment the government’s March announcement of the second edition of its ...