In a respite of sorts, Maharashtra government has reduced tax on imported and company owned vehicles.
Reason: Transport Authority has alarmed the government that thousands of vehicles were getting registered in neighboring states to save on the high tax rates applicable in Maharashtra.
The tax rates, which were earlier 22% for petrol vehicles and 26% for diesel vehicles are now slashed to 20% of the vehicle cost. This ruling has been implemented with immediate effects.
Source: Economic Times
Image Source: StockWatch.in
