Haryana State Electric Vehicle Policy
The development of the electric vehicle represents a genuine industrial opportunity that must be supported over time through proactive public policies. In India, electric vehicles are not yet as affordable as in many countries like China and many European countries. The Government of India is taking gradual steps like various policies to accelerate the usage of electric vehicles in the country by providing various subsidies and incentives for car manufacturers and buyers of Electric Vehicles.
Haryana State policy has been developed for electric transport manufacturers, consumer drivers, and those who set up charging centres that will give them special benefits. Haryana state government is aiming to promote all types of electric vehicles, and the state government also plans to see more and more electric vehicles by 2022 in the state. Incentives depend upon the Electric Vehicle policies of the state you live in. In addition, as the rules for electric vehicles evolve, new incentives will be introduced, making electric vehicle buyers more anxious. For example, World Environment Day outlined several plans and incentives from central and state governments to switch to electric vehicles and bicycles.
Haryana EV policy
- The 100% Net State Goods and Services Tax (SGST) is refundable after 5 years for micro and small companies, after 7 years for medium-sized companies and after 10 years for large companies.
- Electric vehicles purchased in Haryana are 100% exempt from road tolls levied during this policy period. In addition, Haryana Govt. exempts SGST in this case for the purchase of electric vehicles produced in the state.
- State offers 100% interest-free loans to government officials for the purchase of electric vehicles in Haryana.
- A grant of 30% on the cost of an electric vehicle on road price will be refunded directly to the buyer and finance company purchasing the electric vehicle in the state. This policy applies when the electric vehicle is being hypothecated.
- All registered electric vehicles are exempt from the state levy.
- Dealers of electric vehicles are exempted from providing bank guarantees which are 1 lakh rupees will be used to register online dealers in the state.
- The government will give priority to the Electric Vehicles registration in just Token money of hundred rupees.
- All-electric vehicles and battery companies covered by this policy are exempted from electricity duty for the first 10 years.
- The unit costs for charging an electric vehicle are low.
- All fuel pumps must be equipped with a charging station and battery reservoirs.
- The sale/use of vehicles in heavily polluted vehicles is charged on the basis of one or more of the following categories: registration, renewal of vehicle, parking fees, entrance fees, sales tax/levy, city access restriction, etc. to support the transition to green vehicles.
- Private places like malls, banks, and other commercial buildings will avail benefits to installing Electric Vehicle Charging Stations. They will also be incentivized by setting up battery storage and exchange stations.
- The municipality must immediately grant a temporary online authorization for the installation of a new charging and battery station. Any confirmation can only take place after the provisional authorization by the municipality.
Central Government scheme for Electric Vehicle
The Ministry of Heavy Industry will change its scheme for the rapid introduction and production of hybrid and electric vehicles scheme (FAME-II) to a 50% higher discount for two-wheel electric vehicles. The discounts apply to electric vehicles that meet the criteria defined by the FAME-II program apart from the state government's discounts. Of the vehicles currently sold in India, the Tata Nexon EV, Mahindra e-Verito, and Tata Tigor EV avail this program. However, if the following electric vehicles are not one of these three models, a newly amended Motor Vehicle Regulations amendment will make all-electric vehicle registration and replacement costs free nationwide if passed. All-electric vehicles are currently subject to 5% Goods and Services Tax (GST). This is six to eight times more than petrol and diesel vehicles. Under section 80 EEB of the Income Tax Act, individual buyers who receive their first loan can get a tax benefit of up to Rs 1.5 lakhs. Several state governments have adopted the centre’s guidelines in terms of charging infrastructure costs and installing charging stations for electric vehicles across the country. Some state governments are investing to accelerate the adoption of electric vehicles by offering incentives to buyers of electric vehicles in addition to subsidies from the centre.
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