1. Further Tax Cuts on Li-ion Would be 'Essential Boost' for India's Energy Storage Industry

    Further Tax Cuts on Li-ion Would be 'Essential Boost' for India's Energy Storage Industry

    India’s Goods and Services Tax (GST), a single tax applicable across the whole of the country, will be lowered for lithium-ion batteries by 10% in a move which has been welcomed by the India Energy Storage Alliance (IESA). All goods and services are taxable under the law, which was introduced in 2017. Along with a wide range of other changes, the GST rates on lithium-ion batteries has dropped from 28% to just 18%. In related news, fuel cell vehicles will see their GST reduced from 28% to 12%.

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