Automobiles, all set to cost more in Maharashtra

Automobiles like bikes, cars, scooters, public transport, and auto rickshaw will now cost more in Maharashtra as the government has proposed to hike the Motor vehicle tax on all vehicles in order to fight one of the worst draughts in the state’s history.

Source - http://economictimes.indiatimes.com/

Finance Minster of Maharashtra Sudhir Mungantiwar presenting budget on Friday said “the government will revise the existing Motor Vehicle Tax system. “Instead of levying tax on the basis of whether the vehicle is registered as a personal vehicle or company or office vehicle, we now propose to levy Motor Vehicle Tax on the basis of the cubic capacity of the vehicles”

Under the revised system of tax, private vehicles of up-to 99cc will have 8 per cent tax, those between 100cc and 299cc 9 percent while the ones above 300cc will be taxed 10 per cent. In case of a company or any undertaking the vehicles will attract just the double of the new proposed tax. For example a company vehicle above 300cc will attract a tax rate of 20 per cent now.

The state will continue to tax more on petrol & diesel due to draught in state & aims to earn overall net additional revenue of Rs. 363 Cr.

With the rise in the tax structure for new automobiles we will see a positive incline of people to buy used automobiles in order to save them from paying the extra amount. The ratio between new & used vehicle ratio has always been 1:1 most of the times, however with these changes in tax we can expect the ratio to change & used vehicle segment to attract more buyers.

If you are looking to buy a usedvehicle in Maharashtra than Shriram Automall is the right place to come. The company offers widest range of all used vehicles & equipment including construction equipment, commercial vehicles, agricultural equipment, passenger cars and two & three wheelers. 

You can visit the companies Panvel, Aurangabad, Chandrapur and Mumbai Automall to buy the best used vehicles easily.