Mumbai: From July 1, the transport department will implement the increase in one-time tax for non-transport CNG/LPG vehicles and high-end cars as approved in the state budget earlier in March this year.Accordingly, the govt will hike tax by 1% across all categories of non-transport CNG or LPG run vehicles in the state. . “Also, the maximum limit for motor vehicle (MV) tax so far was Rs 20 lakh which was the ceiling, and this has now been increased to Rs 30 lakh,” an official said, adding that this will generate additional revenue of around Rs 170 crore for the state in 2025-26. The official said that a notification was recently issued for implementing the hikes from July.A CNG vehicle which costs upto Rs 10 lakh presently attracts tax slab of 7%. So if one buys a CNG car for Rs 10 lakh, the present tax payable is Rs 70,000 and with revision from July, this will increase to Rs 80,000. Similarly if the CNG vehicle cost is Rs 20 lakh, the present day tax is Rs 1.4 lakh and this will go up to Rs 1.6 lakh. The state presently has over 17 lakh CNG/LPG run vehicles, with many of them in dual variants of petrol and CNG.The state will also levy motor vehicle tax, compulsorily on a lump sum basis, at the rate of 7% on the price of Light Goods Vehicles (LGVs)carrying goods up to 7500 kg in the State. This is expected to generate an additional revenue of Rs 625 crores in 2025-26 for the state transport department. “As for all electric vehicles, there will be no tax at all, encouraging citizens to buy electric cars and bikes,” an official said. In Maharashtra, the one-time tax for petrol cars registered under an individual’s name is set at 11% for vehicles priced below Rs 10 lakh, 12% for those within the Rs 10 lakh to Rs 20 lakh bracket, and 13% for those priced above Rs 20 lakh. Diesel cars attract a one-time tax of 13% for vehicles below Rs 10 lakh, 14% for those priced between Rs 10 lakh and Rs 20 lakh, and 15% for those above Rs 20 lakh. If a vehicle is imported or registered under a company name, both petrol and diesel vehicles are subject to a uniform one-time tax rate of 20 percent, irrespective of the price, according to sources.Mumbai: From July 1, the transport department will implement the increase in one-time tax for non-transport CNG/LPG vehicles and high-end cars as approved in the state budget earlier in March this year.Accordingly, the govt will hike tax by 1% across all categories of non-transport CNG or LPG run vehicles in the state. . “Also, the maximum limit for motor vehicle (MV) tax so far was Rs 20 lakh which was the ceiling, and this has now been increased to Rs 30 lakh,” an official said, adding that this will generate additional revenue of around Rs 170 crore for the state in 2025-26. The official said that a notification was recently issued for implementing the hikes from July.A CNG vehicle which costs upto Rs 10 lakh presently attracts tax slab of 7%. So if one buys a CNG car for Rs 10 lakh, the present tax payable is Rs 70,000 and with revision from July, this will increase to Rs 80,000. Similarly if the CNG vehicle cost is Rs 20 lakh, the present day tax is Rs 1.4 lakh and this will go up to Rs 1.6 lakh. The state presently has over 17 lakh CNG/LPG run vehicles, with many of them in dual variants of petrol and CNG.The state will also levy motor vehicle tax, compulsorily on a lump sum basis, at the rate of 7% on the price of Light Goods Vehicles (LGVs)carrying goods up to 7500 kg in the State. This is expected to generate an additional revenue of Rs 625 crores in 2025-26 for the state transport department. “As for all electric vehicles, there will be no tax at all, encouraging citizens to buy electric cars and bikes,” an official said. In Maharashtra, the one-time tax for petrol cars registered under an individual’s name is set at 11% for vehicles priced below Rs 10 lakh, 12% for those within the Rs 10 lakh to Rs 20 lakh bracket, and 13% for those priced above Rs 20 lakh. Diesel cars attract a one-time tax of 13% for vehicles below Rs 10 lakh, 14% for those priced between Rs 10 lakh and Rs 20 lakh, and 15% for those above Rs 20 lakh. If a vehicle is imported or registered under a company name, both petrol and diesel vehicles are subject to a uniform one-time tax rate of 20 percent, irrespective of the price, according to sources.
