Why Are EV Startups Eyeing GST Reforms In The Interim Budget?

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thinks that bringing down this GST rate would be crucial in the building of the entire ecosystem.

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shares that battery companies face long working capital cycles in EV production. Govt action to expedite processes, especially in cell purchases and GST credit return, would be a significant relief.

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believes that there is also a need for easing the taxation on imports of battery components and a reduction in customs duty for cells and other key components.

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believes that under sustainable programs, the industry expects slashing of the GST rate on batteries from the current 18% rate to 5%.

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2024 Budget: EV Startup’s Expectations

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What EV Industry Wants From The Interim Budget

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