The GST on electric and hydrogen vehicles has been reduced from 12% to 5%. Additionally, tractors with engine capacities less than 1800cc will now have a 5% GST, offering relief to farmers. Tractor parts will also attract a 5% GST. Bicycles and their parts will also have a 5% GST. Electric two-wheelers already have a 5% GST. Motorcycles with engines up to 350cc and their parts will have an 18% GST, down from 28%. Motorcycles with engines exceeding 350cc will be subject to a 40% GST, placing them in the premium category.
Tax Cuts on Electric Vehicles, Tractors, and Motorcycles
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