Because of the Maharashtra state government's change to the one-time tax system, luxury vehicles, CNG and LNG-fueled automobiles, and commodities carriers have all gotten more pricey since July 1. The previous cap for a one-time tax was ₹20 lakh, but it has now increased to ₹30 lakh, which means that the cost of vehicles with an ex-showroom price of ₹20 lakh or more has increased by at least ₹10 lakh, bringing the total cost to ₹30 lakh or more.

The tax breaks for electric cars (EVs) in the state will remain in place, though. The state government had previously suggested a six percent tax on electric vehicles costing more than 3 million rupees, but the idea was eventually abandoned.

According to PTI, the state's luxury gasoline and diesel vehicles, which are registered in the name of an individual and cost about ₹1.54 crore and ₹1.33 crore, respectively, would now be subject to a one-time tax of over ₹20 lakh. The report also stated that the one-time tax in Maharashtra for petrol cars registered in an individual's name is 11% for vehicles costing less than ₹10 lakh, 12% for those costing between ₹10 lakh and ₹20 lakh, and 13% for those costing more than ₹20 lakh. The one-time tax for diesel vehicles is 13% for those costing less than ₹10 lakh, 14% for those costing between ₹10 lakh and ₹20 lakh, and 15% for those costing more than ₹20 lakh.

All petrol and diesel automobiles in the state are subject to a uniform 20% one-time tax, regardless of their cost, if they are imported or registered under a business name. According to RTO authorities quoted in the article, the new tax structure will also result in a modest increase in the cost of vehicles that use compressed natural gas (CNG) or liquefied natural gas (LNG), with a 1% increase in the one-time tax rate for all three price categories.

Contrarily, the tax rate for goods transporters like pickup trucks, tempos with a gross vehicle weight of up 7,500 kg, and construction machinery such cranes, compressors, and projectors will now be 7% of their cost. According to reports, a top officer at the RTO stated that the tax basis for these cars would now be their cost, as opposed to their gross vehicle weight, which was the previous standard. For instance, a pickup truck costing roughly ₹10 lakh earlier would have been subject to a tax of about ₹20,000 depending on its weight; under the revised system, the tax will be about ₹70,000. The state transport department's website states that the previous one-time tax for goods vehicles with gross weights between 750 kg and 7,500 kg was between ₹8,400 and ₹37,800.

Read Also: Mahindra Vision.T Concept Teased: What to Expect Before August 15 Reveal
Get the latest Bollywood entertainment news, trending celebrity news, latest celebrity news, new movie reviews, latest entertainment news, latest Bollywood news, and Bollywood celebrity fashion & style updates!