July 15, 2020

  • Daily Motion

Karnataka waived off stamp duty & registration fee for electric vehicles

Karnataka waived off stamp duty & registration

Karnataka waived off stamp duty & registration fee for electric vehicles

The Cabinet on Thursday decided to completely (100%) waive stamp duty and registration charges for the manufacture and sale of electric vehicles.

The Industries Minister Jagadish Shettar said with this step the government aims to promote sale and manufacture of electric vehicles. He said that this decision is in line with the Karnataka Electric Vehicles and Energy Storage Policy, 2017.

Karnataka waived off stamp duty & registration fee

The Union Minister Nitin Gadkari recently said that over the next four years, the country will witness electric vehicles growth in usage and in production. Karanataka has a similar growth opportunity and the government is trying to harness this opportunity.




During the Siddaramaiah government, this policy the electric vehicles and energy storage was implemented in the state in 2017. This policy provides different concessions for the sector which includes waiving of tax under the Karnataka Motor Vehicle Taxation. If registration charges are waived off that it will be more helpful to boost the production of electric vehicles he added.

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Last year, the Ministry of Road, Transport and Highway led by the Union Minister Nitin Gadkari issued a notice regarding electric vehicles registration fees. As per the notice the electric vehicles registration fees was waived off. The tax exemption is applicable to all vehicular category. As the Indian government aims to bring in fully EVs on roads of India by 2030 to promote eco0friendly and sustainability, tax exemptions encourage a lot. 

Hike ICE vehicles registration fee 

The Road Transport Minister last year had also proposed in a draft notification to hike the ICE vehicles for most of the categories. The hike in ICE vehicles registration fee which means the newly revised registration fee will be charged to the ICE vehicles. 

Before it was Rs.50 for two-wheelers and the new revises registration fee will be Rs 1,000 and the renewal charges will be Rs 2,000. For the cabs, it is Rs 1,000 at present and the revised fee is 10,000 and renewal charges will be Rs 20,000.

For registrations-three-wheelers from 300 to 5,000 increase. For LMV personal (car/jeep) from 600 to 5,000, LMV (commercial) from 1,000 to 10,000. From medium and heavy goods and passenger vehicle 1,500 to 20,000. The draft notification proposes to hike the registration fee of imported vehicles from Rs 5,000 to Rs 40,000.

Increase in the renewal fee

For renewal for three-wheelers from 300 to 10,000 and For LMV (Commercial) 1,000 to 20,000. The medium and heavy goods and passenger vehicles from 1,500 to 40,000. For LMV (Commercial) 1,000 to 20,000. The medium and heavy goods and passenger vehicles from 1,500 to 40,000.

For imported motorcycles, the registration fee will be Rs 20,000 against the current Rs 2,500. “We have sought feedback from all stakeholders before notifying the final fee structure in the next 40-45 days,” an official said.

Road tax, stamp duty and registration fee exemptions is an encouragement to the manufacturers and the sellers as well as the consumers, which helps in promoting and adopting electric vehicles. 




 

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About The Author

Mastered my Journalism and entered into writing for Electric vehicles sector. I am a regular writer and EV enthusiast. I love to write about electric vehicles, technology, startups, people, fashion and trends. My aim is to make India pollution-free by sharing knowledge through my writings.

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