If you are planning to buy the electric and CNG vehicles, then be ready to shell out more in Maharashtra. The state government in its annual budget has imposed and increased the taxes on motor vehicles that will increase the total cost of the vehicle purchase in the state.
Maharashtra deputy chief minister and finance minister Ajit Pawar said that the state government has decided to impose and increase the taxes on vehicle purchase.
“It is true that in this budget, we imposed and increased the taxes on vehicle purchase, but we have ensured that these taxes are not for the poor people. The people who buy the high-end vehicles and can afford the taxes, they only need to pay the taxes,” finance minister Ajit Pawar said.
Ajit Pawar said that the new imposed taxes and rise in taxes on motor vehicles will help them to generate over Rs 1500 crore annually.
As per the budget, the state government has decided to increase the tax by one per cent on the purchase of CNG and LPG individually owned non-transport four wheelers.
“This decision will generate Rs 150 crore additional revenue annually for the state. Currently, the state government is charging 7 to 9 percent tax on CNG and LPG vehicles. So there is a marginal one per cent rise in taxes that anyone can easily bear,” Ajit Pawar said.
He said the state government has also decided to levy the six per cent tax on the purchase of electric vehicles.
“However, this 6 % tax over EV is only for vehicles that cost more than Rs 30 lakh while below Rs 30 lakh vehicles there is no taxes. This proposed taxes on EV will help to generate additional Rs 170 crore annually,” finance minister said.
Finance minister said they also proposed a seven per cent lump sum motor vehicle tax on the purchase of vehicles that are used for constructions such as cranes, compressors, projectors and excavators while another seven per cent tax on light goods vehicles purchase.
“Both these taxes will help to generate Rs 180 crore and Rs 625 crore respectively for the year 2025-26,” he added.