BUSINESS NEWS

Green tax on old vehicles increased manifold in andhra pradesh

Written by admin

Green tax on old vehicles increased manifold in andhra pradesh

Amaravati, Nov 24 (PTI) The Andhra Pradesh Legislative Assembly on Wednesday approved the Andhra Pradesh Motor Vehicle Taxation Amendment Bill 2021 to increase the tax on motor vehicles to generate more revenue.

With the implementation of the new law, the state government is expected to get an additional revenue of Rs 409.58 crore annually. In the new law, the green tax on old motor vehicles has been increased manifold.

Karnataka levies the highest tax on vehicles in the southern states, but Andhra Pradesh has come second after the new law.

Transport Minister Perni Venkataramaiah while placing this bill for the approval of the Assembly said that these changes have been made to rationalize the tax rates applicable on vehicles.

The green tax rate on vehicles in Andhra Pradesh was last revised in 2006.

According to the new tax rates, green tax of Rs 2,000 will be levied on motorcycles older than 15 years, while the amount will increase to Rs 5,000 if they are more than 20 years old.

In the case of other vehicle categories, a green tax of Rs 5,000 will be levied on 15-year-old vehicles and Rs. 10,000 on 20-year-old vehicles.

#Green #tax #vehicles #increased #manifold #andhra #pradesh

See also  zee entertainment share price: Zee Entertainment share surges 24 percent: Zee Entertainment shares rocket as soon as Sony joins hands

About the author

admin

Leave a Comment

close
%d bloggers like this: