Electric two-wheelers and four-wheelers are becoming the future of mobility around the world. Several countries are pushing customers into adopting cleaner vehicle technology. Punjab Government has now decided to reduce VAT on electric two-wheelers in an attempt for faster adoption.
Previously, Punjab Government levied a thirteen percent VAT on electric two-wheelers, along with a ten percent surcharge. Customers will now witness VAT reduction down to 5.5 percent and the ten percent surcharge has been retained.
Hero Electric has a wide range of electric two-wheelers in the Indian market. Yo Bikes also has a decent portfolio on offer to Indian customers. The VAT reduction by Punjab Government is expected to boost sales as well as manufacture of electric two-wheelers in India.
Surprisingly, Delhi and Rajasthan currently do not levy VAT on electric two-wheelers. We hope that other states in India follow a similar path in an attempt to boost quicker adoption of electric-powered vehicles. Stay tuned for more updates on clean and green mobility options.