Eco-friendly motorists have reason to cheer
The new vehicle tax norms grant complete MV tax waiver on battery-operated vehicles such as electric cars and bikes.
Even as the tax rates for motor vehicles heads northwards, pro-environment motorists have reason to celebrate. The new vehicle tax norms grant complete MV tax waiver on battery-operated vehicles such as electric cars and bikes, and partial waiver for those which make use of compressed natural gas (CNG) or liquified petroleum gas (LPG) as fuel. Other taxes charged by municipal bodies and state agencies remain.
For CNG-run vehicles, the MV tax structure will be as per the following: for vehicles priced at less than Rs10 lakh, the MV tax will be 5% of the total price; 6% of the total price in the case of vehicles priced between Rs10-20 lakh and 7% of the total price in the case of vehicles priced over Rs20 lakhs.