Slowdown In Auto Sector Prompts Goa To Cut Road Tax By 50 Per Cent

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Goa Cupboard has given its nod to cut back the street tax by 50 per cent. (Representational)

Panaji: 

In a bid to spice up demand within the auto sector battling downturn, the Goa authorities on Wednesday introduced to slash street tax by 50 per cent on the acquisition of any kind of recent autos for a interval of three months, until December 31.

Chief Minister Pramod Sawant mentioned the Cupboard has given its nod to cut back the street tax by 50 per cent on buy of any kind of recent car until December 31, 2019.

As per state Transport Division information, the general registration of autos in Goa in the course of the first 4 months of the present monetary yr declined by 15-17 per cent.

A complete of 19,480 autos had been registered from April to July, 2019. “With festivals like Diwali approaching, this decision of the government will help the auto industry,” mentioned Transport Minister Mauvin Godinho.

At the moment, two-wheelers costing upto Rs 1.5 lakh are taxed at 9 per cent of the car value, whereas these between Rs 1.5 lakh to Rs three lakh at 12 per cent. The autos costing greater than Rs three lakh entice 15 per cent tax, as per the information.

The tax on the four-wheelers costing as much as Rs 6 lakh is at present 9 per cent whereas the identical is 11 per cent for the autos costing as much as Rs 10 lakh.

Automobiles within the Rs 10 lakh-Rs 15 lakh bracket are charged with 11 per cent tax of the price and people above Rs 15 lakh at 13 per cent, it said. 

(This story has not been edited by HEARALPUBLICIST workers and is auto-generated from a syndicated feed.)

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