New Delhi: The 35th meeting of the GST (Goods and Services Tax) Council and the first under Finance Minister Nirmala Sitharaman, on Friday deferred decision on reducing tax slab on electric vehicles, sources told Zee Media.
The GST Council was expected to consider slashing rate on electric vehicles to 5 percent, from 12 percent currently.
However, sources told Zee Media that the all powerful GST council will refer to a committee to come to a unanimous decision on cutting tax slab on electric vehicles. The Council has returned the decision on e-vehicles to the fitment committee for review. GST rate for petrol and diesel cars and hybrid vehicles is already at the highest bracket of 28 percent plus cess.
Besides, the Council has also extended the tenure of the National Anti-Profiteering Authority (NAA) by a two years, as the authority continues to receive consumer complaints of profiteering against companies, sources added. The NAA came into existence on November 30, 2017, after its Chairman B N Sharma assumed charge. So far, the NAA has passed 67 orders in various cases.
This is the first GST Council meeting after Modi 2.0 took charge last month and is being held just two weeks before the presentation of Union Budget 2019.