New Delhi, Sept. 9 -- The India Energy Storage Alliance (IESA) on Monday welcomed the new tax regime under GST 2.0, describing it as a significant step toward supporting India's future energy storage needs.

According to IESA, several key recommendations from the industry body have been adopted by the GST Council.

A major policy shift under GST 2.0 has streamlined the tax rate for all advanced batteries under heading 8507 to a uniform 18 percent, replacing the earlier system where lithium-ion batteries were taxed at 18 percent and other chemistries at 28 percent.

IESA highlighted that this change will encourage innovation across diverse battery technologies, including flow batteries, sodium-ion, and metal-air systems, and create a more ...