Panaji: In a bid to give boost to the struggling auto industry, the State government has decided to slash road tax by 50 percent on purchases of new vehicles for a period of three months from October.
Transport Minister Mauvin Godinho said that government has decided to reduce the road tax by 50 per cent on new vehicle purchase.
He said that with festivals like Dussehra and Diwali approaching, the government decision will help the slugging auto industry.
As per Transport Department official, the overall registration of vehicles in the State, during the first four months of the financial year, reported 15-17 per cent decline.
Currently, the two-wheelers costing upto Rs 1.5 lakhs are taxed 9 percent of vehicle cost, and above Rs 1.5 lakh to Rs 3 lakh, the taxation is 12 percent. For vehicles above Rs 3 lakhs are charged 15 percent of vehicle cost.
For four wheelers, upto Rs six lakhs, nine percent is the tax, while upto Rs 10 lakh, 11 percent tax is charged. Vehicles between Rs 10 lakhs to Rs 15 lakhs are charged 11 percent of cost and above that Rs 13 percent.
