New Delhi: The Government on Thursday announced hefty concessions to be given to the vehicle owners in the new financial year from April 1 to discard the old and polluting vehicles under the vehicle scrapping policy.
As an incentive for scrapping, the concession will be given in the motor vehicle tax on submission of the "certificate of deposit" of old vehicles as issued by the registered scrapping facility.
The concession will be available up to eight years in case of transport vehicles, and up to 15 years in case of non-transport vehicles. This concession will be available up to 15 years in case of the personal vehicles and up to eight years in case of the commercial vehicles.
"As an incentive for scrapping, concession is stipulated in the motor vehicle tax for a vehicle registered against submission of 'certificate of deposit', which is issued by a registered vehicle scrapping facility," the ministry said in a release.
While presenting the Union Budget for 2021-22 (Apr-Mar), Finance Minister Nirmala Sitharaman had announced a voluntary vehicle scrapping policy to phase out old and unfit vehicles, under which the personal vehicles will undergo a fitness test at automated centres after 20 years, while commercial vehicles will undergo the test after 15 years.
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