Budget 2018: Govt may give tax benefits to make electric vehicles alluring

Electric cars, Electric vehicles. e-cars, e-vehicles, battery, batteries

The Centre may dole out incentives to promote electric vehicles in the country by considering lower GST and extending tax benefit for buyers in this week's Budget 2018-19, say sources.

The announcement is expected in view of the government's aim to have 100 per cent electric vehicles for public mobility and 40 per cent for personal mobility by 2030.

"Finance Minister Arun Jaitley may announce tax benefits for the electric mobility in the Budget on February 1, 2018 as there has been a lot of brainstorming so far," industry sources said.

The government may lower the goods and services tax (GST) on electric vehicles from existing 12 per cent to 5 per cent, they said, adding that there could also be income tax benefits to enthuse buyers to make electric vehicles a viable and alluring option.

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