India News | Delhi Govt to Provide Motor Vehicles Tax Concession for Scrapping Old Vehicles; Proposal Sent to LG for Approval
Get latest articles and stories on India at LatestLY. The Delhi Government is considering to provide a concession in the Motor Vehicles Tax for the registration of new transport and non-transport vehicles, provided a certificate of deposit is submitted for an old vehicle handed over for scrapping at a Registered Vehicles Scrapping Facility (RVSF).
New Delhi [India], July 26 (ANI): The Delhi Government is considering to provide a concession in the Motor Vehicles Tax for the registration of new transport and non-transport vehicles, provided a certificate of deposit is submitted for an old vehicle handed over for scrapping at a Registered Vehicles Scrapping Facility (RVSF).
According to a statement from the Office of the Transport Minister, Government of NCT of Delhi, a proposal in this regard has been sent to the Lieutenant Governor for his approval.
Commenting on this initiative, Transport Minister Kailash Gahlot said, "This policy aims to encourage the scrapping of old, polluting vehicles and promote the use of newer, cleaner vehicles. By offering tax concessions, we hope to make it easier for vehicle owners to transition to more environmentally friendly options."
"For non-transport vehicles, the concession includes a 20 per cent reduction in the Motor Vehicles Tax payable on the registration of new petrol, CNG, or LPG vehicles, and a 15 per cent reduction for new diesel vehicles. For transport vehicles, the concession includes a 15 per cent reduction in the Motor Vehicles Tax payable on the registration of new petrol, CNG, or LPG vehicles, and a 10 per cent reduction for new diesel vehicles. However, the total Motor Vehicles Tax concessions shall not exceed 50 per cent of the scrap value in both cases," the statement added.
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"Further, the validity of the Certificate of Deposit is three years and it can be electronically traded," it added. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)