The news is all around that car drive will soon become costlier by the end of this month. The joy of rising and driving your dream car will now pinch your pocket as well as your heart.
The lifetime Motor Vehicle (MV) tax has increased by 2%. This means another addition in the car costs. Cars will really become costlier and make a hole in your pockets. If you really don’t want to repent afterwards, then go ahead and buy a car now.
Two-wheelers owners can relax because they have been spared. The taxes are increased only for cars and other automotives. After a rise of 2%, the tax on cars pricing below 5 lakh have increased from 10 to 12%, for vehicles between the price tag of Rs 5 lakh and Rs 10 lakh have increased from 11% to 13% and tax for those costing more than Rs 10 lakh is increased by 14% to 16%.
Some of your favorite cars will really become costly. After the increase in road tax, the ex-showroom price of Maruti Alto will be around Rs 2, 83,699; Maruti Swift will be priced around Rs 4, 42,201; Maruti SX4 around Rs 6, 67,054; Hyundai Santro around Rs 3, 49, 658 and Honda City will be priced at Rs 11, 06,000.
This move is expected to earn revenue of around Rs 100 crore per annum for the government, so a good profit for the government but what about the car buyers who will again move back from their car purchase.
The government desires to use this earned revenue for developing the infrastructure and roadways of the country. The cause is wise but is it good to pass the burden on car buyers?
Labels: Car-prices, new cars, Tax on Cars
3 Comments:
Oh My God! I was planning to buy a car this July but I postponed my purchase because of the high inflation and increasing interest rates. I was just thinking to wait for some more time, might be the price go down. But now, another hike. Road tax is increasing. I should better ask the government as to provide me a list of the products and taxes they are planning to increase.
That's really terrible. One by one the government is after pinching our pockets. I think the car manufacturers should raise a voice against government with the help of few known customers. Government has to think about the economy before it’s too late.
I don’t agree with this why are there so many hikes on car prices. Its really difficult for the car buyers to go for new cars. I personally think the Indian Government should not impose such heavy taxes on cars. This will definitely burden the car buyers as well as the car manufacturers. There will be again a downfall in car sales. So I think its better that whoever is planning to buy cars they all need to rush before there is an increase in car sales.
Post a Comment
<< Home