Top News

|  DP World reports 10.7% gross volume growth in Q2 2017  |    |  Major Ports post combined net surplus of INR 2820 cr in FY 2017  |    |  Odisha sets a target to reach INR 1 lakh cr exports by 2025  |    |  Shapoorji Pallonji Group to spend INR 2,000 cr in Odisha Gopalpur Port  |    |  Air India SATS Airport Services launches mobile app for tracking cargo  |    |  IndiGo & Jet introduce additional flights to Doha, Mumbai from Kozhikode  |    |  Port of Rotterdam registers impressive container throughput rise in H1  |    |  New waterways to connect India with Bangladesh  |    |  Yang Ming to start New Korea-Taiwan-Hong Kong service  |    |  DFC to be commissioned in 2 years  |    |  Domestic air traffic up 20% in June  |    |  No new port in 100 km vicinity of major ports  |    |  IRCTC to install 1,100 water vending machines at railway stations  |    |  Port of Antwerp first half volume increases by 1.9% to 5,143,305 TEU  |    |  Asia-Europe rate falls 2.1% to USD 919 TEU, declines 3.1% to USWC  |    |  Operations at international cargo terminal likely to begin soon  |    |  Haicang Port sees 1H cargo rise 20.7% to 3.12 million TEU  |    |  Bahri gets delivery of 39th VLCC, strengthens its leading position  |    |  Shreyas Shipping & Logistics signs MoA to acquire one Multipurpose vessel  |    |  Businessman to sell 12% stake in CIAL  |   
You are here: Home » National News » Roadways» Maharashtra govt. hikes motor vehicle tax

Maharashtra govt. hikes motor vehicle tax

04 July 2017 | Mumbai
 

transreproter

The Maharashtra government has decided to increase Motor Vehicle Tax (MVT) by 2% for vehicles costing up to INR 20 lakh.

Luxury vehicles are exempt from the tax hike.

The tax increase is an attempt to compensate for the revenue loss that the state treasury will incur due to the abolition of octroi and local body tax from July 1.

The MVT is levied at the time of purchase of the vehicle. The state government hopes to add INR 700 crore to its kitty from the new tax.

The decision to increase the tax was taken at the state Cabinet meeting on Monday.

A press statement issued by the Chief Minister’s Office said that for two- and three-wheelers the MVT, which is between 8 to 10, will increase to 10 to 12%.

The statement said, the tax on petrol vehicles will increase from 9 to 11% to 11 to 13%.

For diesel vehicles, the tax, which is currently from 11 to 13%, will increase to 13 to 15%. On CNG and LPG vehicles, the tax will increase from 5 to 7% to 7 to 9%.

   
Transreproter Logo