Indian government may hike registration charge on renewal of old CVs
Money Control, 27 Nov '19
The government is planning to hike the registration charge on renewal of old commercial vehicles (CVs) to Rs. 40,000 (US$ 560) from Rs. 1,500, media reports have indicated.
The Cabinet Committee on Economic Affairs (CCEA) has proposed charging 25 times the original registration charges of old cars, sources told the news channel.
The CCEA also suggested removing registration charges on the exchange of old cars for new ones; and may approve the scrappage policy at a meeting on November 27th, it added.
The panel might also place a heavy road tax of vehicles older than 15 years, and offer a discount on exchanging old vehicles for new ones.
The Ministry of Road Transport and Highways on November 19th said it has prepared draft guidelines for setting and operating vehicle scrapping centres.
