New Cars and Bikes in India

GST Council To Consider Reducing Tax On Electric Vehicles

Minister of State for Finance Anurag Thakur informed the Lok Sabha that the GST Council will consider reducing tax on electric vehicles.

expand View Photos
The matter has been placed before the GST Council and will be considered, said Minister Anurag Thakur

The GST Council will consider reducing tax on electric vehicles, which are seen as more environment-friendly, and the matter is pending before it, Minister of State for Finance Anurag Thakur informed the Lok Sabha on Monday.

Thakur was replying to a question asked by BJP member Varun Gandhi during the Question Hour. "The matter has been placed before the GST Council and will be considered. As of now, it is pending before the council," he said.

Thakur said the number of tax filers has doubled under the GST, and it shows that people's trust in the new tax regime has increased.

He said the council has taken several decisions since the Goods and Services Tax, which has brought many indirect taxes levied by states and the Centre under one regime, was rolled out in 2017 to simplify the exercise and also to benefit traders, including MSME sector.

Benefits totaling over ₹ 92,000 crore have been provided to them, he said.

The minister said over 21 lakh returns were filed in a single day last month which, he added, indicates the new tax regime has become better with time after initial glitches and has stabilised.

The tax collection in April-May this year had increased by over 8.5 per cent compared to the corresponding period last year.

He also submitted a written reply to a question asked about tax collections.

The total direct tax in 2018-19 was ₹ 11,37,685 crore against 10,02,037 in 2017-18, he said, adding the direct tax-GDP ratio has risen to 5.98 per cent from 5.86 per cent.

0 Comments

The GST collection in 2018-19 was ₹ 5,81,563 against ₹ 4,42,561 crore in 2017-18, he said, adding the total non-GST indirect tax collection was ₹ 3,55,906 crore in the last fiscal compared to ₹ 4,69,092 crore in the previous year.



(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

For the latest auto news and reviews, follow carandbike.com on Twitter, Facebook, and subscribe to our YouTube channel.

You might be interested in

New Car Models

Toyota Urban Cruiser

SUV, 17.03 - 18.76 Kmpl
Toyota Urban Cruiser
Price Starts
₹ 8.4 - 11.3 Lakh
EMI Starts
₹ 17,437 9% / 5 yrs

Kia Sonet

SUV, 18.2 - 24.1 Kmpl
Kia Sonet
Price Starts
₹ 6.71 - 11.99 Lakh
EMI Starts
₹ 13,929 9% / 5 yrs

Audi RS Q8

SUV, 8.2 Kmpl
Audi RS Q8
Price Starts
₹ 2.07 Crore
EMI Starts
₹ 4,29,698 9% / 5 yrs

Honda Jazz

Hatchback, 17.1 - 18.2 Kmpl
Honda Jazz
Price Starts
₹ 7.5 - 9.74 Lakh
EMI Starts
₹ 15,567 9% / 5 yrs

Audi RS7 Sportback

Sedan, 11.6 Kmpl
Audi RS7 Sportback
Price Starts
₹ 1.94 Crore
EMI Starts
₹ 4,02,712 9% / 5 yrs

Honda City

Sedan, 17.8 - 24.1 Kmpl
Honda City
Price Starts
₹ 10.89 - 14.64 Lakh
EMI Starts
₹ 22,606 9% / 5 yrs

Hyundai Tucson

SUV, 12.95 - 16.38 Kmpl
Hyundai Tucson
Price Starts
₹ 22.3 - 27.03 Lakh
EMI Starts
₹ 46,291 9% / 5 yrs

MG Hector Plus

SUV, 13 - 17 Kmpl
MG Hector Plus
Price Starts
₹ 13.74 - 18.69 Lakh
EMI Starts
₹ 28,518 9% / 5 yrs
Be the first one to comment
Thanks for the comments.