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Buying New Vehicle? Road Tax To Cost More!
As if the already increasing petrol and diesel rates are not enough, the government increased life tax rates on non-transport vehicles
N
Nishanth Kumar
Hyderabad
Tue May 10 2022
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Buying New Vehicle? Road Tax To Cost More!
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The state government has given a shock to vehicle owners in the name of transport tax. As if the already increasing petrol and diesel rates are not enough, the government increased life tax rates on non-transport vehicles. The vehicles were divided into slabs and were taxed. 


The increase is between 2 percent to 4 percent per vehicle. Three schedules have been changed for this. Schedules three, four, and seven of the relevant act were revised. This was announced by the Special Chief Secretary of the State Transport Department Sunil Sharma releasing a G.O.


The orders came into effect on Monday. According to the new tax, depending on the type of vehicle, an additional charge of Rs 3,000 to Rs 1.20 lakh will be levied. With the increased taxes, the government will get Rs. 1,200 crore to Rs. 1,400 Crore additional revenue.


The government has increased the existing 2 slabs policy to 4 slabs. In the past, one tax was levied on vehicles valued at less than Rs 10 lakh and another on vehicles valued at less than Rs 10 lakh. The Department of Transport has decided to divide the vehicle values into 4 categories and collect taxes. 


An additional increase of one to 6 percent tax will be in effect as per the value of the vehicles. In the case of the two-wheelers, the tax was increased by 1 to 3 percent. Previously there was a 9 percent tax on new vehicles. A new vehicle worth more than Rs 50,000 will have to pay 12 percent tax. If a single person wants to register a second vehicle, he has to pay an additional 2% as in the past. Previously two-wheelers had vehicle categories with engine capacity of 60 cc and those exceeding 60 cc. It is now decided to levy tax on two slabs based on the value of the vehicle.


Three, four-wheelers, motor cabs, cars, and jeeps, (non-transport) will attract a 13 percent tax for vehicles under Rs 5 lakh, 14 percent for vehicles under Rs 10 lakh, and 17 percent for vehicles under Rs 20 lakh and above Rs 20 lakh. 18 percent for existing vehicles. For transport vehicles, 15 percent has been fixed for vehicles below Rs 5 lakh, 16 percent for vehicles below Rs 10 lakh, 19 percent for vehicles below Rs 20 lakh, and 20 percent for vehicles above Rs 20 lakh.


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Buying New Vehicle? Road Tax To Cost More!
Buying New Vehicle? Road Tax To Cost More!
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