Maharashtra Revises Tax Structure: Luxury Cars to Cost More
The Maharashtra government has revised its one-time tax structure, making high-end cars, CNG/LNG vehicles, and goods carriers more expensive. This change increases the cost for vehicles priced above Rs 20 lakh. While electric vehicles remain tax-exempt, other vehicles face varied tax percentages based on their type and price.
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From Tuesday, high-end cars, as well as CNG/LNG vehicles and goods carriers, will become costlier in Maharashtra due to revised one-time taxes. The state government's decision raises the tax cap from Rs 20 lakh to Rs 30 lakh, affecting cars with an ex-showroom price of over Rs 20 lakh.
According to Regional Transport Office (RTO) officials, high-end diesel and petrol cars with prices around Rs 1.33 crore and Rs 1.54 crore will now incur more than Rs 20 lakh in one-time taxes. The revised structure imposes higher taxes based on the vehicle's price category.
While electric vehicles continue to enjoy tax exemptions, gas vehicles will see a one percent tax hike across three price ranges. Additionally, goods carriers and construction vehicles will be taxed based on their price rather than their weight, a shift from the previous tax basis.
(With inputs from agencies.)
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