Another reason to buy an electric car. Electric vehicles will now enjoy full tax exemption in Maharashtra. The new rule comes soon after we reported about the state government putting in effect the policy changes regarding vehicle registrations in the state, wherein imported vehicles enjoyed a tax exemption of 2 percent on petrol trims and 6 percent on diesels. The result was the product of efforts made by the state transport department.
As a part of the second policy issued by the state motor vehicle department, electric vehicles and cars sourced by battery power will benefit from complete tax exemption on Motor Vehicle Tax in the state. The rule follows for the vehicles from other states that are registered in Maharashtra.
This turns out as a great news for the electric carmakers, though not plenty, as it will dramatically bring down the cost of the vehicles. Owing to the fact that electric cars are small in number and are the only alternates with rising fuel prices and strict emission norms, the state government came to this conclusion.
Electric vehicles are not a favorite amongst Indian customers, as they are not powerful and the infrastructure condition hampers their growth. Moreover, the absence of any major brand in India and lack of recharging stations makes the EVs less popular. With the new tax policy in act, Indian market could see a dramatic drift into EV segment.
