New Delhi: Parliamentary Committee has recommended to the government to increase subsidies to buy 3-wheeled vehicles and 4 private wheels as they have done to promote the adoption of two-wheeled electricity under Fame-II.
It also looks for an increase in import duties on “Child Parts” – smaller parts assembled together to create vital parts – gradually until these components are produced locally, while noting that some of these items are still imported from the country Countries include China.
The panel also suggested a decline in GST interest rates on hybrid electric vehicles (Hevs).
Attention of how the current EV car is taxed at 5% and large HEV costs 43% (28% GST plus 15% Cess).
“EVS reduces energy consumption of 75% over the internal combustion engine (ES), while HEV reduces energy consumption by 30-45% on ice without external charger.
Therefore, HEVs are also entitled to discounts at the GST level as in the EVS case .
GST support from HEV will help the whole ecosystem and provide encouragement to EV, “said the permanent parliamentary committee about the industry.
In his report, the committee said that despite major progress in placing the main components, vehicle manufacturers still import several parts of children from other countries such as China.
Parl panel for more subsidies, GST cuts to adopt EV
