Green Tax - Effective Step At Curbing Pollution, Await Larger Affirmative Scrappage Policy: ICICI Direct
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ICICI Direct Report
The Ministry of Road Transport and Highways, vide its notification on January 25, 2020 has proposed to introduce a green tax on transport vehicles (buses, taxis, trucks) older than eight years in the range of 10-25% of the applicable road tax.
For personal vehicles, green tax is proposed for vehicles older than 15 years (rates not specified yet).
This green tax could be higher (50% of road tax) for vehicles in highly polluted cities.
Approval for the proposal is now pending with state governments given road tax is a state subject, post which it is expected to be notified in due course of time.
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