5% GST on Li-Ion batteries brings cheer to OEMS & BAAS Operators

July 9, 2022
Category : 
Views: 1014
Spread the word by Sharing:

The GST Council meeting recently held in Chandigarh presided over the Finance Minister Nirmala Sitharaman has agreed to reduce the service tax on lithium ion batteries from 18 per cent to 5 per cent. This decision will bring cheer to majority of electric 3wheeler OEMs and companies offering batteries as service.

Welcoming this move Dr Akshay Singhal, CEO & Co-founder, Log9 Materials said that The government's initiative to offer a favourable GST slab for EVs sold without batteries is a welcome move. "This makes new BAAS (Battery as a service) models such as Battery on Lease, Battery Swapping, etc. more viable, hence making EVs more affordable for customers" Singhal said.

Subscribe For Latest Updates

Sign up for the latest news and launches straight to your inbox

We promise not to spam you.

Spread the word by Sharing:

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles from the same category:

GreenLine Mobility collaborates with Netradyne to enhance fleet and driver safety


Namma Yatri app launched in Delhi to improve Metro Connectivity


Tata Passenger Electric Mobility commences production in Sanand


Tata Passenger Electric Mobility launches its first Pure EV architecture – ‘acti.ev’

1 2 3 52
EVStory.in - India's best EV Portal
Get a complete insight into the latest news, reports, features & in-depth analysis on the EV industry in India
Copyright 2022 EVStory LLP. All rights reserved.