Buying a two-wheeler, car or SUV in Goa will become dearer from the new financial year, as the state government has hiked taxes.
Chief minister Laxmikant Parsekar in his budget imposed a 15 per cent value-added tax (VAT) from April 1 on luxury cars and SUVs costing between Rs15 lakh and Rs25 lakh and two-wheelers costing more than Rs2 lakh. Cars costing above Rs25 lakh would attract a VAT of 18 per cent.
According to Parsekar, the government would do everything possible to curb pollution by vehicles.
The government also hiked registration taxes on new vehicles; two-wheelers costing above Rs1.5 lakh will have to pay a tax of 10 per cent, while four-wheelers priced above Rs6 lakh will be taxed at nine per cent.
The government also increased VAT on petrol from 15 per cent to 22 per cent, resulting in petrol becoming dearer by Rs4 a litre.
Source : BS Motoring
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app