The budget announced by the Finance minister, Nirmala Sitharaman on Friday gives cheers to Electric vehicle start-up after reduction in GST.
The majority of companies who were depressed due to high GST and finding out the new customers, now have a smile on their face. The government reduces the tax on electric vehicle loans, this influence new buyers to fulfil their dreams.
Nirmala said, with the aim of becoming a global hub for an electric vehicle, we reduced the GST rate from 12% to 5%.
This announcement brings smiles of thousands of customers and sellers face. This believed it brings down custom duty on lithium-ion cells. Also, it reduced the cost of important things which are needed to manufacture.
The CEO, co-founder of Ather energy takes this union budget positively and said this will bring the boost to sales, and we will meet the demands for products with ease.