Yogi government provide huge discount on purchase of EVs
Yogi government provide huge discount on purchase of EVs
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The UP government is going to take a big decision to promote electric vehicles (EVs) in the state. Accordingly, now there is no tax on the purchase of electric vehicles (EVs) here, nor will there be any registration fees. The decision has been taken by the UP government while revising the notification issued earlier. Under this tax and registration fees will not need to be paid for up to 3 years. At the same time, this discount is going to be valid for 5 years on the purchase of electric vehicles manufactured in UP itself. The government has also issued orders to the RTOs of all districts to ensure compliance with the instructions with immediate effect.

According to the revised notification issued by Principal Secretary L Venkateshwar Lu, 100 percent exemption from tax on electric vehicles (EVs) sold and registered in UP.  from October 14, 2022, to October 13, 2025, is also being provided as per the Uttar Pradesh electric vehicle manufacturing and mobility policy 2022. At the same time, a 100 % discount will also be given on the sold and registered EVs manufactured in the state from October 14, 2025, to October 13, 2027, the fourth and fifth years of the effective period of the electric vehicle policy notified on October 14, 2022. Clarification regarding the intention of an electric vehicle is also being provided. According to this, EVs refer to all automobiles using electric motors that are powered by batteries, ultracapacitors, or fuel cells. These include all 2-wheelers, 3-wheelers, and 4-wheelers that are strong hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), battery electric vehicles (BEVs), and fuel cell electric vehicles (FCEVs).

Tax on EV purchases and complete exemption on registration for three years from October 14, last year: Now the government will not charge tax or registration fees on the purchase of EVs. 100% tax on EV purchase and exemption on registration for 3 years from October 14, 2022. This will provide great relief to the millions of existing electric vehicle owners in the state as well as consumers planning to buy EVs. Those who have purchased electric vehicles since October 14, 2022, and have paid tax and registration fees, their money automatically credited back to their accounts. For this, the owner of an electric vehicle does not have to make any effort. This move of the government is also estimated to benefit the owners of electric vehicles in the state. They are going to save a large amount of money through the subsidy being given by the state government. As well as the central government, it is likely that there will be a difference of 15 to 20 thousand rupees in the price of on-road two-wheelers and up to one lakh rupees in the price of cars. Now this difference in registration in Delhi and UP is about to end. Now the rates will be the same in both states.

According to the UP Electric Vehicle Policy, a heavy subsidy is going to be given to customers buying electric vehicles in the state. According to the policy, a subsidy of 15% is also going to be provided on the factory price of electric vehicles purchased in the state. A subsidy of up to Rs 5,000 per vehicle will be provided for the first 2 lakh electric two-wheelers, a maximum of Rs 12,000 for the first 50,000 electric three-wheelers, and up to Rs 1 lakh per vehicle for the first 25,000 electric four-wheelers. A subsidy of up to Rs 20 lakh per e-bus is going to be provided on the first 400 buses purchased in the state. Also, a subsidy of 10 percent on the factory price is going to be provided to a maximum of 1,000 e-goods carriers for the purchase of e-goods carriers up to Rs 1,00,000 per vehicle. The government will also encourage government employees to buy electric vehicles. For this, the state government will also allow employees to take the advance.

 

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