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West Bengal Announces Life Time Tax For Cars
The car lifetime tax can now be paid at the time of purchase. The car lifetime tax will only be an option and car buyers can still continue paying tax on a yearly basis if they chose to do so. Reports say the West Bengal government's decision to launch this car lifetime tax was to collect more revenue.
Lifetime tax in India is usually collected for two wheelers. Cars and commercial vehicles are charged a road tax on an annual basis. With the Car lifetime tax available in West Bengal, car buyers will need to pay a little extra money when they buy a car. Although it is only an option, many people might opt for it as they will not have to pay road tax again.
Some car dealers have expressed concerns about sales coming down as buyers might postpone purchasing cars due to increased down payments. This is particularly in the case of small car buyers as they do not change their cars frequently. People buying high end cars are expected to continue paying the annual car tax as they prefer to change their cars more frequently.
The lifetime car tax will be effective in West Bengal from 3rd September 2012. The lifetime tax will be 10% of the price of the car. This tax is open only to two wheelers, cars and vans that have a seating capacity up to 14 and are not registered as transport vehicles.
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