MoRTH Proposes Concession Of Up To 25 Per Cent On Road Tax Against Vehicle Scrapping Certificate
According to the new proposal, if the vehicle is registered against submission of “Certificate of vehicle scrapping”, the concession in the motor vehicle tax will be up to 25 percent, for non-transport vehicles and up to 15 percent for transport vehicles.
View PhotosMoRTH has proposed new incentives against vehicle scrapping certificate.
The Ministry of Road Transport and Highways (MoRTH) has proposed a concession of 25 per cent on road tax for personal vehicles and 15 per cent for transport vehicles against a scrapping certificate. The new scrappage policy is expected to come into effect from October 1 this year. According to the new proposal, if the vehicle is registered against submission of “Certificate of vehicle scrapping”, the concession in the motor vehicle tax will be up to 25 percent, for non-transport vehicles and up to 15 percent for transport vehicles.
Also Read: MoRTH Minister Nitin Gadkari Announces Scrappage Policy In Lok Sabha
Private Vehicles will attract an incentive of up to 25 Per Cent on road tax.
Moreover, the ministry has also invited suggestions on the draft rules over the next month after which the final notification will be issued. The government will give these concessions for eight years for transport vehicles, and for 15 years for private vehicles. Nitin Gadkari, Minister- MoRTH has earlier said that the new Vehicle Scrapping Policy is aimed at creating an eco-system for phasing out polluting vehicles. Vehicle owners who will be scrapping their old vehicles will be given strong incentives including a 25 per cent rebate on road-tax for personal vehicles, and 15 per cent for commercial vehicles, in addition to a 5 per cent discount on purchase of new vehicle against the scrapping certificate.
Also Read: Incentive Of 5% On New Car Purchase For Scrapping Old Under Vehicle Scrappage Policy: Gadkari
Government To Push Scrappage Policy As Soon As Possible: Nitin Gadkari
The Vehicle Scrappage policy proposes that commercial vehicles will be de-registered after 15 years if it fails to pass the fitness test. In case of commercial vehicles, a disincentive measure increased fees for fitness certificate and fitness test will be applicable for commercial vehicles after 15 year onwards from the date of initial registration.
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Source: ET Auto
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