India, Sept. 9 -- Revolt Motors, India's leading electric motorcycle brand, has hailed the Next-Gen GST Reforms announced by the GST Council under Finance Minister Nirmala Sitharaman, calling them a significant step toward a more citizen-centric and business-friendly tax regime.
For the electric mobility sector, the reforms include a reduction in GST on key auto components from 28% to 18%, aimed at improving affordability, strengthening supply chains, and simplifying compliance. Battery rates have been retained at 18%, ensuring price stability for a critical EV component, while the provision of 90% provisional refunds under the inverted duty structure is expected to ease liquidity pressures for the industry.
The reforms are also expected ...