Oct 04, 2024 02:10 PM IST
The Delhi government is offering a motor vehicle tax rebate for those who scrap their old vehicles and purchase new ones within three years of the scrappage
The Delhi government is introducing a new tax rebate incentive scheme to promote the scrapping of old vehicles, with Chief Minister Atishi on Wednesday, October 02, 2024, approving a 10-20% rebate on motor vehicle tax depending on the type of fuel it uses.
This scheme comes in a move to stimulate demand for new vehicles to benefit the auto industry which has been struggling with a demand slowdown, reduce the number of older and more polluting vehicles from the road, and also provide a financial incentive for vehicle buyers to purchase newer, lesser-polluting models.
Also Read: 18th installment of PM-KISAN to be released tomorrow: Check eligibility and eKYC process
What are the various tax rebate incentive percentages offered by the Delhi government on scrapping older vehicles?
- For the purchase of non-commercial CNG and petrol vehicles, the tax rebate will be 20%.
- For the purchase of commercial CNG and petrol vehicles, the tax rebate will be 15%.
- For the purchase of diesel vehicles, the tax rebate will be 10%.
Also Read: Moving on from China, Apple loves ‘Made in India’ iPhones. There’s proof
How to avail the Delhi government’s tax rebate incentive on scrapping older vehicles?
To avail the inventive, it is necessary to obtain a certificate of deposit on scrapping the old vehicle at a registered facility.
This certificate of deposit must be submitted at the time of registering the new vehicle, within three years of the scrappage of the old one to avail the tax rebate.
Also Read: WhatsApp’s new tagging feature in status updates: How it works