The EV sector is looking forward to a slew of sops, including the extension of the FAME-II schemee beyond 2024, and a reduction in GST.
India’s growing electric vehicle (EV) industry is looking forward to the Budget 2023 which will be presented by Union Finance Minister Nirmala Sitharaman on 1 February 2023.
The EV sector (including ancillaries) are looking forward to a slew of sops, including the extension of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME-II) scheme beyond 2024, and a reduction of GST.
Tax sops
“The EV industry expects the GST on ACC (Advanced Chemistry Cell) batteries to be reduced and brought on par with EVs (5 percent),” said Chetan Maini, Co-Founder and Chairman, SUN Mobility.