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CNG Vehicles May Soon Become Cheaper by 20% Lower GST

CNG Vehicles May Soon Cheaper

Recently in a bid to wake up the motivation to go for a clean fuel green vehicle, the oil ministry asked for a rate reduction on the CNG vehicles from 28% to 5%.

The lower 5% GST is applicable to electric vehicles as of now and the ministry thinks that the lowered rate may help people to opt for CNG vehicles more than ever.

If the GST council heeds to this suggestion, there will a staggering 20% reduction in the prices tags of CNG vehicles which will ultimately prove a solid benefit to the sales of them.

Also, the ministry is continuous with the consultation from the finance ministry to help reduce the price of CNG vehicles through the means of rate reduction.

Due to the lesser emission stats of clean fuel i.e. straight 25% lesser c02 than petrol which is giving goals the government for reduced GST on these vehicles.

Also, the second agenda for the government is to increase the share of natural gas in countries energy supply to 15% by 2030 which is currently at 6%.

The electric vehicles are currently enjoying the lowest GST slab rate i.e. 5% after the July GST council meeting Get to know about GST (Goods and Services Tax) council 1st to 38th meeting updates and decisions taken by members. We have covered 1st meeting to last meeting decisions. Read More in which it was reduced from 12%. Hope the government will surely do this righteous act as soon as possible.

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