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Electric Vehicle attracts 5% GST under HSN code 8703. Calculate the exact tax below.
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Electric Vehicle is classified under HSN code 8703 for GST purposes. The Harmonized System of Nomenclature (HSN) code is used to classify goods systematically. This code must be mentioned on GST invoices when billing for electric vehicle.
Electric vehicles were reduced from 12% to 5% GST in the 37th GST Council meeting (August 2019) to promote EV adoption. No compensation cess applies on EVs.
Yes, input tax credit (ITC) is available on electric vehicle for registered businesses. If you purchase electric vehicle for business purposes, the GST paid (5%) can be claimed as ITC against your output tax liability, subject to conditions under Section 16 of the CGST Act.
Here are example calculations showing GST on electric vehicle at 5% for common price points:
| Base Price | GST (5%) | CGST (2.5%) | SGST (2.5%) | Total |
|---|---|---|---|---|
| ₹5,00,000 | ₹25,000 | ₹12,500 | ₹12,500 | ₹5,25,000 |
| ₹10,00,000 | ₹50,000 | ₹25,000 | ₹25,000 | ₹10,50,000 |
| ₹15,00,000 | ₹75,000 | ₹37,500 | ₹37,500 | ₹15,75,000 |
| ₹25,00,000 | ₹1,25,000 | ₹62,500 | ₹62,500 | ₹26,25,000 |
More in Vehicles:
Other items at 5% GST:
Electric Vehicle attracts 5% GST in India under HSN code 8703. For intra-state sales, this is split into 2.5% CGST and 2.5% SGST. For inter-state sales, 5% IGST applies.
The HSN code for Electric Vehicle is 8703. HSN (Harmonized System of Nomenclature) codes are used to classify goods under GST. This code should be mentioned on all GST invoices.
To add 5% GST on electric vehicle: GST Amount = Base Price × 5/100. Total = Base Price + GST Amount. For example, on ₹10,00,000: GST = ₹50,000, Total = ₹10,50,000.
Yes, registered businesses can claim input tax credit on electric vehicle purchased for business purposes. The 5% GST paid can be offset against your output GST liability, subject to Section 16 conditions of the CGST Act.
Electric vehicles were reduced from 12% to 5% GST in the 37th GST Council meeting (August 2019) to promote EV adoption. No compensation cess applies on EVs.