Income Tax Department Conducts Searches at Insecticides India Ltd Premises

Changes to Tax Rate on Used EV and Major Changes in Insurance to be Proposed Before GST Council The government is set to propose changes to the tax rate on used electric vehicles (EVs) and major modifications in the insurance sector to the GST Council. The proposals include a revision of the GST rate on used EVs, aiming to promote the adoption of electric vehicles by making them more affordable. Additionally, the insurance sector may undergo changes to its tax treatment, including adjustments to GST rates and procedures. These proposals are expected to be discussed at the next GST Council meeting, with the aim of boosting the electric vehicle market and refining the taxation of insurance services.