Delhi govt to introduce tax rebate scheme to promote scrapping of old vehicles, check details here

The strategy provides a concession successful the centrifugal conveyance taxation connected the registration of caller transport and non-transport vehicles against the submission of a certificate of deposit (COD) successful favour of aged vehicles handed implicit for scrapping astatine a registered conveyance scrapping installation (RVSF).

Under this scheme, the concession volition beryllium 20 per cent connected registration of caller non-transport petrol/CNG/LPG-propelled vehicles and 15 per cent for specified diesel-propelled vehicles. The concession for transport vehicles volition beryllium 15 per cent for petrol/CNG/LPG-propelled vehicles and 10 per cent for diesel-propelled vehicles. However, officials said taxation concessions should not transcend 50 per cent of the scrap value.

Officials said the COD volition beryllium a indispensable and capable papers valid for 3 years from the day of its issuance and volition besides beryllium electronically tradable. Further, nary concession connected COD volition beryllium issued against government-owned oregon impounded vehicles.

The transport section impounded astir 14,000 vehicles during the thrust against overaged vehicles. Once notified, owners with COD whitethorn avail of the benefits nether this strategy erstwhile purchasing a caller vehicle.