Summary:
SMEV said to mitigate the high cost of EVs, the central and state governments have initiated favourable tax policies. Presently, the excise duty on EVs, including two-wheelers, electric three-wheelers, and small electric cars is 6 per cent. New Delhi, Sep 29 () Electric vehicle (EV) manufacturers have asked the government to continue the benefits of lower excise and VAT on EVs under the GST regime by keeping it at the lowest slab. Given the nascent stage of EV adoption and the current low volumes, the financial impact of such an exemption would be insignificant, it added. Various states have also come forward to support deployment of EVs..