Rs. 1 lakh road tax on for cars costing Rs. 10 lakh

Rs. 1 lakh road tax on for cars costing Rs. 10 lakh

Plan to buy a premium sedan or a rugged SUV? The government wants to burn a bigger hole in your pocket for this decision.
The transport department has proposed to increase registration tax of vehicles to 10% to the vehicle’s cost for premium models.
This means, for cars costing Rs. 10 lakh, your road tax value would be Rs. 1 lakh. This figure will move higher with the price of your vehicle.
Currently, owners are paying 8% for passenger cars & this additional 2% will help the government generate more revenue.
Vehicles priced lower than Rs. 10 lakh however will pay only 7% for road tax.
For two-wheelers, bikes costing up to Rs. 40,000 will pay 7% road tax while those priced higher will pay 10%.
Commercial vehicles will also be taxed on a higher rate soon.

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