Auto NewsStock Analysis, IPO, Mutual Funds, Bonds & MoreChief Minister Pramod Sawant said the Cabinet has given its nod to reduce the road tax by 50 per cent on purchase of any type of new vehicle till December 31, 2019.PTI|Oct 09, 2019, 01.10 PM ISTBCCLIn a bid to boost demand in the auto sector battling downturn, the Goa government on Wednesday announced to slashroadtax by 50 per centon the purchase of any type of new vehicles for a period of three months, till December 31.
Chief Minister Pramod Sawant said the Cabinet has given its nod to reduce the road tax by 50 per cent on purchase of any type of new vehicle till December 31, 2019.
As per state Transport Department data, the overall registration of vehicles in Goa during the first four months of the current financial year declined by 15-17 per cent.
A total of 19,480 vehicles were registered from April to July, 2019.
“With festivals like Diwali approaching, this decision of the government will help the auto industry,” said Transport Minister Mauvin Godinho.
Currently, two-wheelers costing up to Rs 1.5 lakh are taxed at 9 per cent of the vehicle cost, while those between Rs 1.5 lakh to Rs 3 lakh at 12 per cent. The vehicles costing more than Rs 3 lakh attract 15 per cent tax, as per the data.
The tax on the four-wheelers costing up to Rs six lakh is currently 9 per cent while the same is 11 per cent for the vehicles costing up to Rs 10 lakh.
Vehicles in the Rs 10 lakh-Rs 15 lakh bracket are charged with 11 per cent tax of the cost and those above Rs 15 lakh at 13 per cent, it stated.
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