In a move to encourage the adoption of eco-friendly transportation, the government has decided that the vehicle owners would be eligible for a one-time waiver of motor vehicle tax, along with associated interest and penalties, if they choose to scrap their old vehicles at a registered vehicle scrapping facility (RVSF).
For green cause
- CM Sukhvinder Singh Sukhu said this move would not only prove favourable for the environment but also act as a catalyst for the automotive industry and related sectors
- The key objective behind the scrapping policy is to find the unfit vehicles and methodically recycle them
- "The tax concessions are investments in the state's future well-being, with a broader impact on economic growth and environmental sustainability," said Sukhu
"This incentive will be valid for a one-year period, aiming to motivate owners to responsibly dispose of their vehicles in line with existing environmental norms," said a government spokesperson.
The government has also decided to offer a 25 per cent concession on non-transport vehicles for up to 15 years and 15 per cent concession for transport vehicles for eight years. This concession applies to the tax payable under Section 14 of the HP Motor Vehicles Taxation Act, 1972, while registering a new vehicle, provided a valid 'Certificate of Deposit' is submitted.
The state government has set a target to transform the state into a green energy state by March 31, 2026. Several measures have already been implemented in alignment with this goal, including provisions in the budget to strengthen green initiatives. "Incentivising vehicle scrapping is important. It will encourage owners to opt for environmentally friendly registered vehicle scrapping facility," the CM said.
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