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=> In the cabinet meeting held under the chairmanship of Chief Minister Nitish Kumar through video conferencing, it was decided that the state government would provide exemption in motor vehicle tax on the purchase of new vehicles instead of declaring old vehicles as junk.
=> Under this decision, 25 percent tax exemption will be given on the purchase of private vehicles and 15 percent on the purchase of commercial vehicles.
=> It is to be noted that 8 percent tax is levied on vehicles up to Rs 1 lakh, 9 percent on vehicles between Rs 1 to 8 lakh, 10 percent on vehicles between Rs 8 and 15 lakh and 12 per cent on vehicles above Rs 15 lakh.
=> In such a situation, this decision will reduce pollution in the state and increase the revenue of the state government from the purchase of new vehicles, while on the other hand, industries for scrap will be developed in the state.
=> It is noteworthy that the vehicle scrapping policy was announced by the Central Government in March 2021, under which-
By: ASRAF UDDIN AHMED ProfileResourcesReport error
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