Thanks for posting again
I have not seen you post screenshot from WhatsApp statusš
I wonder if it will be applicable for cars only or even for scooters? How will it work for the leased Athers?
Lease, I think itās upto the leasing partner to pass on the benefitsā¦
Unlike subsidy, tax exemption on interest is not direct benefitā¦ So itās likely that no change in lease cost.
It applies for all EVs. Current GST rate on all EVs (cars or 2 wheelers) is 12% and now reduced to 5%.
Yeah GST reduction will reflect in lease price. Last time during subsidy increase they didnāt reduce the monthly due instead reduced the final price for whom decided to retain the vehicle after lease. Thatās completely unfair.
This time they should reduce the monthly due.
Firstly, the reduction of GST from 12% to 5% for EV is still a proposal which will need to be accepted by the GST council.
Once the policy is through, it would be worth checking with Autovert on how they plan to pass on the cost differential to the customer.
The 1.5L tax deduction on interest would only be applicable for loans and not lease imo. Also, for a 2W, I think there will be hardly any tax savings given the small monthly interest payments. It would make sense if you are buying a 26L Hyundai Kona EV on a loan.
1.5 Lacs Tax deduction makes the 15.4% interest rate to 10.8% if you are in 30% tax slab. That makes it loan cheaper.
One more thing:
Can the customer choose any other loan partner instead of Hero. Because for most corporates, the salary account bank might give better rates. I remember HDFC giving 12% for our org for two wheeler loans above 1L.
In such case, this tax deduction makes the effective interest rate from 12% to 8.4%
At 8.4%, you are getting literally interest free EMI (assuming you are going to get 8.4% in FD or any equivalent instrument)
GST reduction from 12% to 5% made Ather cheaper.
The last I enquired, the interest was at 8.5% from Honda finance. The interest is tax deductible, however the sales person at Ather couldnāt confirm this.
I have pre ordered the bike in Bangalore and waiting for Sep for delivery.
Lucky you!
It cost me nearly more than ā¹10,000 extraā¦
For you, you have relatively less waiting time and the same product is cheaperā¦
I am yet to getā¦ But, really so many typos from a public organization, in the age of auto correctsā¦
Excellent observationā¦ 
I too received itā¦
Guys i went to test drive Nexon EV today, there the sales rep told that the subsidy on EV might be taken off by the government, and hence the prices might increase from April 2020.
I am not sure whether it was a sales gimmick or a real speculation? As I have not come across any news rated to this. Any confirmation would be helpful.
Sales gimmick. Under FAME 2, There is NO subsidy on personal EV 4 wheelers. Only if you are a fleet operator do you get subsidies.
Which dealer was this?
Ohh. Thanks I did not know that its not for personal 4 wheeler EV. However this was KHT motors, AECS Layout, Brookefield.