Govt plans more tax concessions on vehicles purchased after scrapping old ones says Gadkari

Photo: PTI

Discount will increase on buying new vehicles instead of old vehicles

New Delhi. Union Minister Nitin Gadkari said on Tuesday that the government is considering a proposal to give more tax-related concessions on new vehicles purchased after converting old vehicles into scrap under the recently introduced National Vehicle Scrap Policy. Gadkari also said that the new scrap policy will reduce pollution. He said this while inaugurating the Scrap and Recycling Facility Center of Maruti Suzuki Toyotsu. This is the first such center to be approved by the government.

The Minister of Road Transport and Highways said, “The scrap policy will increase the Goods and Services Tax (GST) revenue of both the Center and the states. I will discuss with the Finance Ministry how more tax related concessions can be given under the new policy. Will give up to 25 percent discount on toll tax on taking. Gadkari said that he is also urging the GST Council to explore the possibility of what more incentives can be given under the new policy. He said, “The final decision in this regard will be taken by the Finance Ministry and the GST Council.” 40,000-40,000 crores of revenue will be received. He said that the scrap policy is important from the point of view of curbing pollution and generating employment.

Gadkari said, “Old vehicles cause more pollution than new vehicles. Hence they need to be removed. We expect that the scrap policy will increase sales by 10 to 12 percent.” He said, “The scrap policy is also important for the economy. We will be able to get raw material at low cost. This can bring down the cost of production.” Gadkari also said that the Center is planning to set up at least 3-4 vehicle recycling or scrap centers in every district of the country. He said, “There will be 200-300 junk centers in the next two-three years.” Gadkari also said that the annual turnover of the auto sector is Rs 7.5 lakh crore and he aims to increase it to Rs 15 lakh crore in five years. Is. The minister said, India has set a target of net zero carbon emissions by 2070. I am sure that the junk policy will help in this.” On this occasion, Kenichi Ayukawa, Managing Director and Chief Executive Officer, Maruti Suzuki India Limited said, “Like many countries, we need a policy where every 3-year Check the ‘fitness’ of the vehicles in 4 years. We don’t have to wait 15 years.

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