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Mercedes-Benz India is hoping that the Budget on Thursday will outline a long-term plan regarding the goods and service tax (GST) on electric cars, enabling auto companies to plan their investments accordingly, according to its Managing Director and Chief Executive Officer, Santosh Iyer, in a statement to Business Standard on Wednesday.
Currently, all electric vehicles (EVs) benefit from a concessional GST rate of five per cent, while vehicles running on internal combustion engines (ICE) are charged a 28 per cent GST.
The German carmaker, which leads the luxury car market in the country, achieved a 10 per cent year-on-year growth, reaching 17,408
First Published: Jan 31 2024 | 8:00 PM IST
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