Punjab: GST cut may push e-bike production, but manufacturers worry over flat sales
(WorldNews India)

The reduction of GST on e-vehicles, from the existing 12 per cent to five per cent, may have an impact on manufacturing of the electric bikes (e-bikes), but more than a cut in taxes is needed to boost its sales. Advertising Presenting the Union Budget 2019-20, Finance Minister Nirmala Sitharaman proposed additional income tax deduction of Rs 1.5 lakh on the interest paid on loans taken to purchase electric vehicles as part of efforts to accelerate adoption of eco-friendly mobility solutions. To make such vehicles affordable, she also proposed to lower the GST from 12 to 5 per cent. With a sale of not more than 900 electric bikes per...