GST revamp: Council meet to weigh big rate rejig; 5% EV tax as opposition states push hard on revenue loss
The Centre is advocating for a 5% GST on electric vehicles as part of a broader tax overhaul, aiming to simplify the GST structure to two main slabs: 5% and 18%. This reform seeks to lower taxes on everyday goods while opposition-ruled states are concerned about potential revenue shortfalls and are seeking compensation.🕒 1 min read
The Centre is advocating for a 5% GST on electric vehicles as part of a broader tax overhaul, aiming to simplify the GST structure to two main slabs: 5% and 18%. This reform seeks to lower taxes on everyday goods while opposition-ruled states are concerned about potential revenue shortfalls and are seeking compensation.
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