The Nasik-based Jitendra Electric vehicles welcomed the decision of fixing reasonable GST rates to EVs.
The Government of India is already in process of promoting EV’s and making them affordable with Phase 2 of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles and the recent in GST rates on EVS from 12 per cent to 5 per cent is going to revitalize EV industry and sales.
Welcoming the new GST rate slash on EVs, Jitendra Shah, Managing Director, Jitendra Electric Vehicles thanked Government of India, PMO, Ministry of Finance and Department of Heavy Industries for encouraging EV industry.
He said, “GST on EV is now 5 per cent whereas ICE two-wheeler and three-wheeler tax is 28 per cent. The initial investment in vehicle price gap is lower it will push demand, so people will be encouraged to buy EV. We thank Government of India and GST council for their great vision and effort to safeguard our environment.”
“FAME-II has already motivated us to be in line with governments MAKE IN INDIA vision. We also thank ministry of Finance for the tax benefit under income tax section 80 EEB”, he further said.
“Lowered tax rates have encouraged us to expedite launches of products in new and emerging segments like popular and premium category motorcycles, higher range 2 and 3 wheelers as well as more customer-oriented products. I believe that India will eventually become the global hub for E vehicle manufacturing and is hopeful that as in the past, Maharashtra will once again become the Automobile capital. All the initiatives are creating win-win scenario for industry, consumers and the government. A great movement in the right direction”, he added.
Jitendra Electric was incorporated in 2015 and since then, producing and selling electric 3 and 2 wheelers. Over 40 years’ experience in retailing leading global automobile brands has made the company and each employee to strive for customer delight and it’s expanding the dealer network as well.