• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

GST Panel Refuses To Cut Tax Rate On Batteries For EVs

OMMCOM NEWS by OMMCOM NEWS
October 4, 2023
in Business

New Delhi: The fitment committee of the Goods and Services Tax (GST) Council, at a meeting held on Wednesday, rejected the industry request for reducing the GST rate on lithium-ion batteries for electric vehicles from 18 per cent to 5 per cent.

According to sources, the reason for not reducing the levy is that apart from electric vehicles, lithium-ion batteries are also used in multiple other products including mobile phones and portable electronic goods.

The tax is seen as an important source of revenue which the government does not want to lose given the huge expenditure on social welfare and infrastructure projects in the run-up to the key assembly elections in states and the Lok Sabha polls early next year.

The fitment committee, which comprises revenue officials from both the Centre and states, is reported to have rejected the request of industry for a reduction of duty on over 10 goods.

However, it has recommended the exemption of goods and services tax on powdered millet sold in loose form where at least 70 per cent millet is used. It has also recommended a 12 per cent GST rate for millets sold in prepacked and branded form.

But it has refused to cut the rate for prepared produce made out of millet. These recommendations will be taken up in the next GST council meeting salted for October 7.

The committee also took no decision on the GST rate on scrap iron and steel as it felt more discussion is required and it is expecting a report on the issues involved by a sub-committee.

It also deferred a decision on imposing a uniform cess on cigarettes and bidi. The industry had claimed that the current cess system is not uniform.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

Gadkari Tests Sky Bus In Sharjah Before Its India Debut

Next Post

Sanjay Singh’s Arrest Shows PM Modi’s Nervousness, His Arrest Illegal: Kejriwal

Related Posts

Investment
Business

UK-India Report On Infra Highlights Strong Progress In Investment

September 9, 2025
Business

GST Rate Cut Set To Spur Growth In Electronics Sector

September 9, 2025
GST
Business

Two-Wheeler Industry Passes Full GST Cut Benefits

September 9, 2025
Business

India’s Fitness Market Revenue To Grow By 15 Pc Annually, Reach Rs 37,700 Cr By 2030: Report

September 9, 2025
Sensex
Business

Sensex, Nifty End Higher Led By IT Stocks

September 9, 2025
Business

Bank Deposits Outpace Lending Growth, Credit-To-Deposit Ratio At 79.3 Pc: Report

September 9, 2025
Next Post
Arvind Kejriwal

Sanjay Singh’s Arrest Shows PM Modi's Nervousness, His Arrest Illegal: Kejriwal

Rajnath Singh

Highly Complex Systems, Sensors, Weapons And Ammunition For Armed Forces

After NCLT Snub, Torrent Investment Once Again Knocks SC's Doors

Khimji
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.