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Subsidies, exemptions galore in TN Electric Vehicle Policy

Monday - September 16, 2019 6:24 pm , Category : BUSINESS
Chennai, Sep 16 (IANS) The Tamil Nadu Electric Vehicle Policy 2019 released here on Monday by Chief Minister K.Palaniswamy offers subsidies on investment and land cost and exemptions from State Goods and Services Tax (SGST), land registration fees and electricity tax for the investors.
According to the policy, all the electric vehicles will be exempted from Motor Vehicles Tax till 2022.
The policy also said laws relating to building construction in the cities will be amended, so that electric vehicle charging infrastructure could be built-in during the building planning stage itself.
As regards the electric vehicle charging infrastructure, the policy says that the Tamil Nadu Generation and Distribution Corporation Ltd, on its own, or under a public-private partnership model will set up the necessary facilities.
The policy also said electric vehicle charging infrastructure will be ensured at eating outlets, movie theatres, malls and other places.
The government also said Open Permit System will be implemented for electric three wheelers.
For manufacturers of electric vehicles, batteries and charging infrastructure where the capital investment is above Rs 50 crore and provides direct employment to over 50 persons, the following incentives are offered:
- 100 per cent refund of SGST till 2030 for electric vehicles manufactured and sold in Tamil Nadu
- Investment subsidy of 15 per cent for electric vehicle makers and 20 per cent for battery manufacturers till 2025. In the case of tiny, small and medium enterprises, 20 per cent over the existing limits
- 20 per cent subsidy in the land price if the units are set up in government industrial estates and 50 per cent in case the units are set up in the southern districts of the state till 2022
- 100 per cent exemption from land registration fee till 2022
- 100 per cent exemption from Electricity Tax
- Subsidy towards employer contribution of Provident Fund till 2025 for makers of electric vehicle makers and charging infrastructure for every worker

--IANS vj/vd