ENA Sectors 2023-08-28 17:17:07 <p><span style="font-size:14px"><strong>New Delhi, Aug 28 (KNN)</strong> The Indian Sugar Mills Association (ISMA) has put forth an appeal to the Ministry of Road Transport and Highways for a relaxation in the Goods and Services Tax (GST) on Flex-Fuel Vehicles (FFVs).</span></p> <p><span style="font-size:14px">Recognizing the significance of FFVs as a vital instrument for a greener future, the industry underscores the crucial need for fiscal equilibrium. Presently, FFVs are levied with a GST rate of 28 per cent, in contrast to the 5 per cent GST rate applicable to electric vehicles (EVs).</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">Aditya Jhunjhunwala, President, ISMA, said, We request parity in the GST rebate for FFVs, a move that will acknowledge ecological importance and empowers consumers to seamlessly embrace environmentally conscious choices without bearing disproportionate financial burdens. Offering tax deductions for FFVs could incentivize the adoption of eco-friendly vehicles, promoting a greener transportation choice.</span></p> <p><span style="font-size:14px">With the target of 10 per cent ethanol blending being achieved, the country's focus now turns to the ambitious goal of reaching 20 per cent blending by 2025-26, reported ET.</span></p> <p><span style="font-size:14px">As per reports, ISMA also reached out to the Automotive Research Association of India (ARAI), which is working on the development of anhydrous ethanol blends with gasoline, urging for a thorough exploration of the untapped potential inherent in E-100 hydrous ethanol blends.</span></p> <p><span style="font-size:14px">The manifold benefits of ethanol-based fuel are significant and far-reaching. </span></p> <p><span style="font-size:14px">These blends herald an epoch of environmental mindfulness, dramatically curtailing greenhouse gas emissions, lessening dependence on fossil fuels, and elevating air quality. This audacious step aligns harmoniously with the global energy transition narrative, positioning India as a guiding star in the realm of sustainable energy practices. <em><strong>(KNN Bureau)</strong></em></span></p> 34604 https://knnindia.co.in/news/newsdetails/sectors/isma-urges-centre-to-relax-gst-on-flex-fuel-vehicles 2023-08-28 17:17:07 knnindia.co.in