Team Goemkarponn
PANAJI: In an effort to curb vehicular pollution and promote the scrapping of ageing vehicles, the Transport Department has introduced a new tax exemption scheme providing financial incentives for owners who purchase new vehicles against scrapped ones.
The department, through a notification issued on Tuesday, announced that vehicle owners presenting a Certificate of Deposit for a scrapped vehicle will be entitled to specific tax concessions at the time of registering a new motor vehicle.
Under the new policy, transport vehicles will get a rebate of 15 per cent of the payable tax or up to ₹75,000—whichever is lower—for a period of eight years from the date of first registration.
For non-transport vehicles, the exemption has been set at 25 per cent or a maximum of ₹75,000, whichever is lower, and will remain valid for up to 15 years.
In a special push to phase out older and more polluting vehicles, both transport and non-transport vehicles conforming to BS-I norms will be eligible for a 50 per cent tax waiver or ₹75,000, whichever is lower.
Similarly, medium and heavy goods as well as passenger vehicles meeting BS-II standards will also qualify for a 50 per cent tax exemption or ₹75,000, whichever is lower.
The initiative aims to promote cleaner and more efficient vehicles on Goan roads while providing a financial cushion to owners opting to replace their outdated ones.
