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
