CM of Tamil Nadu releases the Tamil Nadu e-vehicle policy 2019
Posted on: 17/Sep/2019 10:01:30 AM
Electric vehicles are the future. It must be noted that these electric or e-vehicles does not emit gases associated with global warming and needs low maintenance etc.
On Monday, 16th September 2019, chief minister of TN Mr. E. Palaniswamy became the cynosure of many eyes when he released Tamil Nadu Electric Vehicle Policy 2019. The main purpose of this was to boost the manufacture as well as the use of electric vehicles in TN. It must be taken into account that this policy provides concessions for the manufacturers and e-vehicle users.
The point is this policy called for 100% road tax exemption till 30th December 2022 and there would be a waiver of registration charges for electric two-wheelers. It is believed that these would increase the sales of electric vehicles.
At an event that took place in the secretariat in Chennai, the first copies of the policy were received by the industries minister Mr. Sampath and by the transport minister. Mr. Vijayabhaskar. It was stated by the policy that the private car owners would be encouraged to switch over to electric cars. As per the government of India�s notification, the registration fees would be waived and road tax exemption would be enhanced from 50% t 100% till December 2022.
It is revealed that the manufacture of electric vehicles, their components like EV batteries, and manufacture of charging infrastructure would be provided a special package of incentives. For those units engaged in e-vehicle manufacture that made investments above Rs 50 crores and employed at least 50 persons, there would be special packages.
As per the policy, it is clear that the investments made from 1st April 2018 would be considered eligible for availing incentives. Information gathered is full reimbursement would be provided for SGST paid on the sale of EVs manufactured, sold and registered for use in TN till 2030.
A capital subsidy of 15% would be given on eligible investments over 10 years in case of intermediate products where SGST reimbursements were not applicable. Permit fees would be waived for electric transport vehicles till December 2022 and this would be for the transport vehicles like taxis and tourist cars etc.
The point to be noted is these taxis and tourist cars would be granted 100% road tax exemption for the same time period. It is worth mentioning that the capital subsidy for e-vehicle manufacturers would be payable on eligible investments made in TN till December 2025.
