Transport Department: Increased Vehicle Tax to be implemented before 10th November!
Posted on: 03/Nov/2023 12:18:11 PM
The Department of Transport of the Government is planning to implement an increase in Vehicle Tax before the 10th of November. Transport Department officials have provided the following information:
- Vehicle Tax will be increased by 10% for 2-wheelers priced up to Rs. 1 Lakh and by 12% for 2-wheelers priced above Rs. 1 Lakh. Previously, only 8% of the vehicle price was fixed for 2-wheelers.
- Currently, for 4-wheelers (cars) priced up to Rs. 10 Lakhs, the Vehicle Tax is set at 10% of the price.
- For cars priced above Rs. 10 Lakhs, the Vehicle Tax was 15% of the price. This will be revised as follows: Vehicle Tax will be 12% for cars priced up to Rs. 5 Lakhs.
- For cars in the price range of Rs. 5-10 Lakhs, it will increase by 13%. For cars in the price range of Rs. 10-20 Lakhs, the Vehicle Tax will be 18% of the price.
- For cars priced above Rs. 20 Lakhs, the Vehicle Tax will be fixed at 20%.
It`s important to note that the Governor has not yet approved this proposal for increased Vehicle Tax. However, steps have been taken to initiate the implementation of this increased Vehicle Tax effective before the 10th of November, pending approval from the Governor for this proposal.
Additionally, the details of this proposal for increased Vehicle Tax have already been circulated to all relevant department offices.
