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Tax Cut On Imported Cars In Maharashtra

It’s good news for the car industry since the Maharashtra government had decided to cut the vehicle tax both on company owned vehicles and imported vehicles. The tax will now be 20% of the cost of the vehicle. This would mean that the price of cars will now be cheaper compared to what it was with the last percentage of tax. Car companies will surely benefit from this for people will somehow be encouraged to buy cars due to the tax reduction.

The government had decided to lessen the tax since they have observed that there are a declining number of cars being registered in the place due to high tax. Most of the vehicles are registering in neighboring states for tax is lesser there.

Based on their records there records; vehicles that were taxed reached about 22% for petrol vehicles and 26% for vehicles that runs in diesel. This tax reduction will take effect immediately for it’s a big concern to the state of Maharashtra.

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