West Bengal cabinet gives nod to lifetime tax payment for cars
Last Updated at
- 02:48 pm, September 01, 2012
The new tax structure in the state will be enforced from September 3, 2012.
The state government of West Bengal is all set to implement a new life time tax and one time tax for five years policy on motor vehicles, starting September 3, 2012. Till now, one was paying car tax for five years at a time and prior to that, tax had to be paid annually.
Now however, with the clearance of the new proposal for lifetime tax payment for four-wheelers, two-wheelers, contract carriage and luxury taxis, new customers will have to pay the tax just once at the time of purchase of the car and the same will be valid for as long as the car lasts. The approved proposal however, will not be applicable for commercial vehicles such as buses, trucks, taxis and auto rickshaws.
"The new tax structure will be enforced in the state from September 3 as per the West Bengal Additional Tax and One-Time Tax on Motor Vehicles (Amendment) Act, 2012," Transport Minister Madan Mitra said.
As per the act, 10 per cent of the value of the new vehicle upto 900 cc or Rs 40,000, whichever is higher, would be the rate of life time tax, while 5.5 per cent of the value of the vehicle or Rs 17,000 whichever is higher would be the rate of one-time tax.
For new vehicles between 900 cc and 1490 cc, life time tax would be 10 per cent of the value of the vehicle or Rs 55,000 whichever is higher, and rate of one time tax 5.5 per cent of the value of the vehicle or Rs 25,000 whichever is higher.
Similarly, for new vehicles between 1490 cc and 2000 cc life time tax would be 10 per cent of the value of the vehicle or Rs 80,000 whichever is higher, and one time tax 5.5 per cent of the value of the vehicle or Rs 35,000 whichever is higher.
For new vehicles more than 2000 cc life time tax would be 10 per cent of the value of the vehicle or Rs 1 lakh whichever is higher, and one time tax 5.5 per cent of the value of the vehicle or Rs 45,000 whichever is higher.
First Published on 02:48 pm, September 01, 2012
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