High-end cars, CNG/LNG vehicles, and goods carriers in Maharashtra are set to become more expensive from Tuesday due to the revised one-time tax structure of the state government, officials said.
The cap for one-time tax will now be Rs 30 lakh, against the existing Rs 20 lakh, which means cars with an ex-showroom price of more than Rs 20 lakh will get costlier by at least Rs 10 lakh, they said.
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High-end diesel and petrol cars registered under an individual's name, with prices around Rs 1.33 crore and Rs 1.54 crore, respectively, will now attract more than Rs 20 lakh in one-time tax, RTO officials said on Monday.
In Maharashtra, the one-time tax for petrol cars registered under an individual's name is 11 per cent for the vehicles priced below Rs 10 lakh, 12 per cent for those costing between Rs 10 lakh and Rs 20 lakh, and 13 per cent for cars priced above Rs 20 lakh, they said.
For diesel cars, the one-time tax is 13 per cent for those priced below Rs 10 lakh, 14 per cent for the four-wheelers priced between Rs 10 lakh and Rs 20 lakh, and 15 per cent for those costing above Rs 20 lakh.
If a vehicle is imported or registered under a company name, both petrol and diesel vehicles attract a flat one-time tax of 20 per cent, regardless of their price, the officials pointed out.
According to the RTO officials, cars running on compressed natural gas (CNG) or liquefied natural gas (LNG) will also become slightly more expensive, with a 1 per cent hike in one-time tax across all the three price brackets.
Goods carriers such as pickup trucks, tempos with a gross vehicle weight of up to 7,500 kilograms, and construction vehicles like cranes, compressors and projectors will now be taxed at 7 per cent of their price.
A senior RTO official said these vehicles will now be taxed based on their price rather than their gross weight, which was the earlier basis.
For example, earlier a pickup vehicle costing around Rs 10 lakh would attract a tax of about Rs 20,000 based on weight, which under the revised structure will be around Rs 70,000, he said.
According to the transport department's website, the earlier one-time tax ranged from Rs 8,400 to Rs 37,800 for goods vehicles with gross weights between 750 kg and 7,500 kg.
"Electric vehicles (EVs) will continue to enjoy tax exemptions. Although the state government had earlier proposed a 6 per cent tax on EVs priced above Rs 30 lakh, the proposal was later withdrawn," the official said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)