Scrap & Save: Govt proposes up to 25% tax concession as part of new policy | Editorji
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Scrap & Save: Govt proposes up to 25% tax concession

Mar 31, 2021 07:43 IST | By Editorji News Desk

In a bid to promote scrapping old polluting vehicles the Govt  has proposed to offer up to 25% concession on motor vehicle tax for all new vehicles purchased if certificate of vehicle scrapping is provided . 

Ministry of Road Transport and Highways issued a draft notification giving new motor vehicles a 25% concession in road tax and commercial vehicles a 15% break in taxes if purchaser produces a scrapping certificate for previous vehicle. 

The proposed tax concession will be for a period of eight years for commercial vehicles, while for personal vehicles the concession will be for a period of 15 years from the date of registration.

Awaiting stakeholder feedback the Govt is looking to implement the new policy from October 1

National