Good news for all the vehicle buyers in the Indian market, as per the reports from Times of India, the Central Government is likely to introduce a new plan of Uniform Road Tax for all vehicles across the country. As per this new plan, all the vehicles would have a flat 6% lifetime road tax on the sales price of the vehicle excluding VAT.
Since currently road tax differs across different states of the country, Central Government has planned to come up with this new plan where vehicles which costs less than 4 lakhs (2 wheeler and 4 wheeler) would have road tax ranging from 4% to 6 % and for vehicles above 20 lakhs the road tax would vary between 7% to 9%. This new plan would be a big relief for expensive vehicle buyers; as a result it would also increase the sales of expensive vehicles in the Indian market.
Although this new plan would bring good news to the expensive vehicle buyers but would increase the collection from two-wheelers. Apart from this, State Government has also agreed not to collect tax on interstate travelling of vehicles for three months which was earlier one month.
Source – Times of India