Get ready to pay more for a new set of wheels.
The Delhi government on Monday announced new tax rates at which cars and motorcycles will be registered in the Capital.
The new rates are likely to be implemented from June 1.
According to the revised rates, cars priced at less than Rs six lakh will attract 4 per cent road tax, cars priced between Rs six lakh and 10 lakh will attract seven per cent road tax while for cars priced at more than Rs 10 lakh, the revised rates will be 10 per cent.
For example, for a Mercedes E 250, priced at Rs 40.20 lakh, you will now be charged Rs 4.02 lakh as road tax. Before the new rates are notified, the tax will be Rs 1.60 lakh (four per cent).
The government has made similar changes on two-wheelers too. For motorcycles and scooters priced at less than Rs 25,000, road tax will continue to be two per cent, ex-showroom price. For two wheelers priced between Rs 25-40,000, the new tax will be four per cent while bikes priced at more than Rs 40,000 will attract 6 per cent as road tax. The new tax structure is likely to earn Delhi government Rs 250-300 crore annually.