The Uttar Pradesh Government has introduced a new tax exemption rule for vehicle scrapping. As per the newly announced rule, all the vehicles that are registered before the year 2023, are eligible to get a 75 percent tax cut when going for the scrapping.
In case your vehicle belongs to registration before 2008, it will get you a tax exemption of 50 percent. When it comes to the diesel models that have been registered in the National Capital Region (NCR) between 2008 and 2013, are now eligible for a tax reduction of 50 percent.
Deadline to Get Benefits
Interested ones can enjoy the benefits, starting from starting September 11, 2024. To note, this has been introduced for a limited time, and will remain valid for 6 months. It will end on March 10, 2025.
Other Benefits
In addition, all the penalties for non-payment of dues also will be waived if the vehicle is being scrapped at a registered Vehicle Scrapping Facility Centre. It has been reported that over 1.5 lakh end-of-life vehicles have been found, which have not cleared their dues. The list includes over 25,000 commercial vehicles.
The move comes at a time when the country is witnessing a growing percentage of pollution in the air. The decision aims to reduce the air pollution in NCR, putting back the air quality into the normal graph.
Petrol and Diesel Life Span
To make it more impactful, the National Green Tribunal (NGT) has already banned the running of diesel models that are more than 10 years old. On the other hand, petrol versions have been given a life span of 15 years.
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