India's Ministry of Environment and Forests will see its budget for the next fiscal year increase only marginally over the current year, from Rs 2,200 crore ($488 million) in fiscal 2010 to Rs 2,300 crore ($510
India is slashing its import duties on EVs to entice major industry players such as Tesla.Tesla’s (NASDAQ:TSLA) has long been a subject of discussion regarding its potential entry into the Indian market. With India reducing import duties on electric vehicles to attract prominent EV manufacturers...
Some politicians in India are calling for the government to lower customs duty for companies like Tesla (TSLA), Audi (AUDVF), BMW (BMWYY) and Rivian (RIVN) among an increasingly...
This approach ensures the tax revenue benefits the state where the goods are consumed, promoting a fair distribution of tax revenue across states. History of GST in India: A Comprehensive Timeline The journey of the Goods and Services Tax (GST) in India spans over a decade of efforts, discuss...
P.S. I focused today on the perverse process, but I can’t help but single out the special tax break for electric vehicles, which unquestionably is one of the most egregious tax extenders. EV tax credits…subsidize the wealthy at the expense of the lower and middle classes. Recent research...
a 13 percent year-on-year upswing. Regarding new energy vehicles, Geely sold a total of 157,889 pure electric vehicles and plug-in hybrid electric vehicles during the period, surging by 44 percent compared to the previous year. Additionally, exports rose to 121,185 units in the first half,...
Philippines: Guidance on excise tax exemption for electric vehicles, tax treatment of securitization transactions Guidance under Revenue Regulations No. 1- 2025 and No. 2-2025 February 10, 2025 News Kazakhstan: Amendments to VAT refund rules Amendments effective on February 11, 2025 February 10,...
Another change to the Corporate Income Tax Law (LIS) involved investment in new electric vehicles. Businesses can now write off the purchase of new electric vehicles twice as quickly as usual. Finally, the minimum tax payable will be 10% of the tax basis for new entities taxed at 15%. The...
In case your employer contributes to NPS account on your behalf, you can claim up to 10% of your basic salary as tax deductible. There is also tax deduction for interest paid on purchase of electric vehicles. Section 7: Income Tax Calculation (Old Tax Slabs) ...
Hero MotoCorp knows that India currently lacks charging infrastructure. So, they have partnered up with Bharat Petroleum Corporation Limited or BPCL to set up charging infrastructure for electric vehicles. As of now, the new charging infrastructure will be two-wheelers only. ...