THE REVISED MOTOR VEHICLE TAX STRUCTURE HAS RESULTED IN PRICE HIKE OF BOTH DOMESTIC AND IMPORTED NEW BIKES IN MAHARASHTRA.
Buying your dream bike has now become more expensive in Maharashtra thanks to the revised motor vehicle tax structure. The state government has increased the basic motor vehicle tax from June 7 2016, which has resulted in a price hike of all the two-wheelers sold in the state. Before the revision, the rate of basic tax on domestic and imported bikes was 7 per cent, which has now been increased to 10 per cent for domestic two-wheelers. Moreover, for imported new two-wheelers it will be between 16 to 20 per cent.
Commenting on this tax revision, Subhash Pedamkar, deputy, Regional Transport Office, said, "We have updated our software and will be charging the revised rates of two-wheeler road tax from Tuesday morning. Most of the bikes are of high value these days (Rs 1.5-2 lakh), and therefore, buyers will feel the pinch. For imported bikes, the tax slabs are being doubled. The new tax structure will be in the range of 16-20 per cent for imported two-wheelers."
With the new motor vehicle tax structure, a Made-in-India two-wheeler with an ex-showroom price tag of Rs 1 lakh will cost Rs 3,000 more, while an imported new bike with a price tag of Rs 10 lakh will cost at least Rs 90,000 extra.