Kathmandu. The government has increased the tax on electric vehicles. While presenting the budget, Finance Minister Varshman Pun has increased the customs and excise duty while continuing the tax determined on the basis of kilowatt.
The budget has imposed a 5 percent tax on excise and customs duty on vehicles up to 50 KW. Earlier it had no excise duty and the customs rate was only 10 percent. Now this segment charges 15 percent customs duty and 5 percent excise duty.
Likewise, the customs and excise duty has been increased by 5/5 percent on EVs from 50 kW to 100 kW. In which earlier 15 percent customs duty was charged, now it is 20 percent and excise duty was charged 10 percent earlier, but now it is 15 percent.
Similarly, the customs duty on 200 kilowatts has been increased by 10 percent to 30 percent. Earlier, 20 percent customs duty was levied. Excise duty has been fixed at 20 percent in this segment. Similarly, the customs duty on 300 kW has been increased by 20 percent to 60 percent. But the excise duty has been reduced by 10 percent to 35 percent.
Similarly, the customs duty has been increased by 20 percent to 80 percent for those above 300 kilowatts. It has reduced the 60 percent excise duty to 50 percent by 10 percent. According to sources, according to the new tax, the price of Atto-3 Superior of BWD, which is the most sold electric vehicle, will increase by Rs 6 lakh, while the price of Advance will increase by Rs 4 lakh. Similarly, the price of BWD Dolphin will increase from 3 to 6 lakh rupees.
