Maharashtra Slashes Tax on Imported Vehicles
Relenting to the enormous number of imported cars that are getting registered in neighboring states to steer clear of high taxes, the Maharashtra Government has decided to slash the vehicle tax on imports. While previously, the imported and company owned vehicles fetched 22 percent tax for petrol vehicles and 26 percent tax on diesel vehicles, the revised duties invite just 20 percent on cost of vehicle.
The state cabinet collectively decided to relax the taxation amount on imported and company owned cars. As per previous budget session, the tax on private vehicles was increased by 2 percent on petrol and 4 percent on diesel vehicles. The revised taxation is on private and company owned cars, and will be put to immediate effect.
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