EVs are fast winning over the hesitant buyer. Better charging infra will accelerate it further
21 Jan 2022
The Economic Times
India has been quite forward looking on electric vehicles (EVs). A comprehensive range of incentives and tax breaks are in place for the promotion of the use of EVs. EVs are levied only 5% GST making the price to the buyer of an EV substantially lower. An income tax deduction up to 1.5 lakhs a year on interest paid on a loan taken for buying an EV is provided for the first purchase of an EV by a person.The charging infrastructure is already being seen as the constraint holding many potential buyers back. The Power Ministry has fortunately liberalised their guidelines recently making them investor and market friendly.