TODAY -
Motor Vehicle Bill 2011 enforced, to yield Rs 17 Crs
Source: The Sangai Express
Imphal, April 01 2011:
The Manipur Motor Vehicles Taxation (Amendment) Bill 2011 passed by the State Assembly during the last session has been approved by the Governor.
The new Bill is expected to raise the rate of vehicle tax collection by Rs 17 crores in 2011-2012 .
With the Governor approving it, the Bill has been transformed into an Act and it would be published in the Government gazette notification in the next couple of days.
Once the Manipur Motor Vehicles Taxation (Amendment) Act 2011 is enforced, the rate of one-time tax levied on jeeps and cars for 15 years would be raised.
As per the provisions of the Act, one-time tax for jeeps/cars would be fixed at 3 per cent of their price if it is Rs 3 lakhs or below.
For jeeps/cars costing above Rs 3 lakhs to Rs 6 lakhs, the tax rate would be 4 per cent of the vehicle price.
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Likewise tax rates would be 5 per cent for jeeps/cars priced up to Rs 10 lakhs, 6 per cent for those priced up to Rs 15 lakhs, 7 per cent for those priced up to Rs 20 lakhs and 8 per cent for jeeps/cars that are priced above Rs 20 lakhs.
According to the new tax rate, for a car costing Rs 2,90,658, the owner has to pay Rs 8720 as one-time tax for 15 years.
Likewise, one-time tax for a car priced at Rs 3,73,291 would be Rs 14,931.64.For a car costing Rs 21,33,893, the tax rate would reach Rs 85,355.72 .
Under the new Act, annual permit fees and taxes for commercial vehicles would be increased by 100 per cent.
A mini-bus of 12 seating capacity should pay Rs 2000 as annual tax and another Rs 800 as permit fee instead of Rs 1000 and Rs 400 levied earlier.
For a bus having 34 to 50 seat capacity, the annual tax and permit fee would raised to Rs 5000 and Rs 800 respectively.
Similarly, annual tax and permit fee for goods carrier vehicles would be raised by 100 per cent.
Unlike the earlier practice where people could choose registration numbers of their vehicles without any fee, the new tax regime would charge certain amount for choosing registration number of one's like.
This fee would be calculated by multiplying the difference between the number selected by the vehicle and the allotted one with 100 .
Under the new tax regime, Green Tax would be levied on commercial vehicles as well as private vehicles which are older than 15 years.
The amount collected as Green Tax would be used in developing greenery for checking pollution.
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