MP Cabinet nods 50% tax rebate for scrapping BS-I, BS-II vehicles

The Madhya Pradesh Cabinet chaired by Chief Minister Mohan Yadav on Tuesday approved a proposal to grant 50 per cent rebate in motor vehicle tax on new vehicle purchase against a "Certificate of Deposit" issued for scrapping BS-I and earlier emission standard vehicles, as well as medium/heavy goods and passenger vehicles manufactured under BS-II norms.

- TDG NETWORK

According to an official release, at present, there are about 99,000 BS-I and BS-II category vehicles on the road in the state. According to the approval, the motor vehicle tax rebate will be granted only when the new vehicle is purchased in the name of the same person, in whose name the Certificate of Deposit is held at the time.

The Certificate of Deposit will serve as the essential and sufficient document to claim incentives and benefits on the purchase of a new vehicle. The validity of this certificate will be three years from the date of issue.