June 24, 2019 4:05:06 pm
The government is mulling to reduce the Goods and Services Tax (GST) on electrical vehicles to encourage environment-friendly transport, Minister of State for Finance Anurag Thakur informed Lok Sabha Monday.
Thakur was replying to a question asked by BJP MP Varun Gandhi during 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.
In January this year, the Centre lowered import duty on parts of electric vehicles. The duty changes were been done with the intent to promote domestic assembling of electric vehicles. The Centre lowered customs duty on import of parts and components of such vehicles to 10-15 per cent.
Speaking in Parliament, 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 totalling over Rs 92 thousand crore have been provided to them, he said. Goods and Services Tax (GST) collections stayed above the Rs 1 lakh crore mark in May, rising 6.7 per cent from Rs 94,016 crore collected in the year ago period.
(Inputs from PTI)
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