India Reducing GST on Electric Vehicles, Charging Stations

India is reducing or exempting its Goods and Services Tax on electric cars, charging stations and certain electric buses, KPMG said in a July 29 report. The changes will reduce the GST rate for electric vehicles from 12 percent to 5 percent, reduce the rate for charging stations for electric vehicles from 18 percent to 5 percent, and will exempt all electric buses hired by local governments from the GST, KPMG said. The changes were announced July 27 and will take effect Aug. 1.