GST hike on electric vehicles to hit adoption: Mercedes-Benz

Mercedes-Benz India warns that raising GST rates on electric vehicles above Rs 40 lakh could hinder investment, employment, and EV adoption. CEO Santosh Iyer argues that higher taxes on imported and locally-produced EVs would reduce demand and potentially neutralize government revenue gains from increased duties.

Oct 11, 2024 - 01:00

GST hike on electric vehicles to hit adoption: Mercedes-Benz

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Mercedes-Benz India warns that raising GST rates on electric vehicles above Rs 40 lakh could hinder investment, employment, and EV adoption. CEO Santosh Iyer argues that higher taxes on imported and locally-produced EVs would reduce demand and potentially neutralize government revenue gains from increased duties.