Take it home: Subsidies of up to Rs 20,000 on Electric Vehicles

Jul 18 2021 03:37 PM
Take it home: Subsidies of up to Rs 20,000 on Electric Vehicles

JAIPUR: Rajasthan govt. recently has approved the scheme to provide a subsidy on the sale of electric vehicles, it is expected that it will surely hike the selling of EV vehicles. This is aiming towards sustainability and from the point of view of environmental protection. Along with this, an additional budget provision of Rs 40 crore has also been approved for this. As per the proposal, 2.5% GST currently payable in the state can be recharged on the sale of e-vehicles. Also, on sale of two-wheelers, a subsidy ranging from Rs 5,000 to Rs 10,000 will be provided according to the battery capacity of 2 KW to 5 KW and Rs 10,000 to Rs 20,000 subsidy for three-wheelers according to the battery capacity of 3 KW to 5 KW will be granted.

As per the state government’s Transport Department, the government will reimburse SGST (State Goods and Service Tax) amount on purchase on an EV. A lump-sum grant amount will be payable on all-electric two- and three-wheelers, as per their battery capacity and this grant amount is payable on vehicles purchased from April 1, 2021, to March 31, 2022, and registered till March 2022.

As per the relaxation given, the lowest incentive is on a two-wheeler battery capacity up to Rs 2 kWH with a grant of Rs 5,000. The highest incentive is on a three-wheeler with more than 5 kWh battery capacity with a grant of up to Rs 20,000. The slabs for incentives are bifurcated between two and three-wheelers, and basis per kWh battery capacity and ranges from Rs 5000 to Rs 20000. The incentives by the Rajasthan govt are over and above the central government’s FAME 2 policy and buyers can avail themselves of both the benefits to reduce the final cost of the electric vehicle.

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