Foreign EV makers are set to be worst affected by the proposed duties. By Stewart Burnett
An Indian tax panel has recommended substantial increases in goods and services tax rates on luxury electric vehicles (EVs) priced above US$46,000, potentially impacting international manufacturers including Tesla, Mercedes-Benz, BMW, and BYD. The proposal would raise goods and service tax (GST) from the current 5% to 18% for EVs priced between US$23,000-US$46,000, while vehicles exceeding US$46,000 could face rates as high as 28% or even placement in a new 40% luxury category.
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