Indian ministries mull tax incentive for commercial vehicle scrappage

Wednesday, 21 September 2022 14:43:53 (GMT+3)   |   Kolkata
       

India’s ministries of road transport and steel are holding consultations to explore options to offer tax concessions for scrapping old and polluting commercial vehicles, a government minister said on Wednesday, September 21.

“The pollution from one old truck is equal to the pollution of 15 new trucks, so it is imperative we scrap them. I request vehicle makers to offer a discount to a buyer who has a scrappage certificate. Alternatively, I am discussing with the steel ministry to request the finance ministry to offer a Goods and Service Tax (GST) benefit on scrapping of vehicles," minister for road transport and highways Nitin Gadkari said.

Minister Gadkari said that an estimated 10 million commercial vehicles were “scrappage worthy” and incentivization held the potential to generate a significant volume of steel scrap to be used as feedstock by secondary steel mills.


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