No joy ride: Vehicle registration to get heavy on the pocket
Get ready to cough up anything between 8% and 12 % as tax on the registration of new or second hand vehicles.
Those going in for two wheelers priced up to Rs 2 lakh will have to shell out 8% on registration, while registration fee on two-wheelers above Rs 2 Lakh is proposed to be 12%. Similarly four-wheeler owners will have to pay 8% on vehicles priced up to Rs 6 lakh and 9% on vehicles that cost between Rs 6 lakh and 10 lakh. Registration on vehivles above Rs 10 lakh will be 10%.
On the purchase of vehicles costing Rs 10 lakh to Rs 20 lakh, Rs 12,000 will have to be paid as infrastructure development cess. Similarly, customers will have to pay Rs 40,000 on the purchase of vehicles costing between Rs 20 lakh and Rs 40 lakh. Rs 75,000 will be charged on the purchase of vehicles costing between Rs 40 lakh and Rs 60 lakh. And Rs 1 lakh on vehicles costing over Rs 60 lakh.
Chief minister Manohar Parrikar, in his budget speech, has said that he proposes to rationalize and enhance the Motor Vehicle Tax collected at the time of registration, the infrastructure development cess on purchase of vehicles and the passenger tax on stage carriages.
Parrikar also target the second-hand car and two-wheeler segment for revenue. He proposed to levy a fee for the transfer of registration of used cars and two-wheelers. [TOI]