July 27, 2019 / 7:15 AM / 24 days ago

India cuts tax rate on electric vehicles to boost uptake

NEW DELHI, July 27 (Reuters) - India on Saturday slashed taxes on electric vehicles and chargers, as it looks to encourage the use of more environmentally friendly cars.

The goods and services tax on electric vehicles and chargers was reduced to 5% from a previous 12% and 18% respectively, India’s finance ministry said in a statement. India’s government previously gave tax breaks in the budget for consumers buying electric vehicles.

Reporting by Aftab Ahmed in NEW DELHI;

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