Government is considering giving more tax exemption on vehicles purchased after dismantling old vehicles: Gadkari


New Delhi; Union Minister Nitin Gadkari on Tuesday said that the government is considering a proposal to give more tax concessions on vehicles purchased after scrapping old vehicles under the recently launched National Automobile Scrappage Policy.

Inaugurating Maruti Suzuki Toyotsu India’s first government-approved scrapping and recycling facility, for end-of-life vehicles (ELVs), Gadkari also said that the scrappage policy is going to reduce pollution. “GST revenue for both the Center and the states will increase due to the scrappage policy. I will discuss with the finance ministry how to provide more (tax-related) concessions under the new vehicle scrapping policy,” he said. Under the new policy, the Center had said that states and union territories will provide up to 25% tax exemption on road tax for vehicles purchased after scrapping old vehicles.

Gadkari also said that he is also requesting the GST Council to find out what other incentives can be provided under the National Automobile Scrappage Policy. “The final decision (on providing more incentives under the National Automobile Scrappage Policy) will be taken by the Finance Ministry and the GST Council,” he said. The minister said the scrappage policy will benefit all stakeholders as it will boost manufacturing, create jobs and help both the central and state governments earn up to Rs 40,000 crore in GST.



Please enter your comment!
Please enter your name here

Share post:


More like this

TATA Motors hikes vehicle prices by 0.9%, know details

Recently, Tata Motors on Tuesday announced an increase in...

Health Tips- Swollen fingers in cold? These measures will give quick relief

If your fingers go numb in winter, Then this...