Active Stocks
Mon May 27 2024 10:12:37
  1. Tata Steel share price
  2. 175.80 0.57%
  1. NTPC share price
  2. 370.00 -1.29%
  1. Tata Motors share price
  2. 957.90 -0.30%
  1. ICICI Bank share price
  2. 1,135.50 0.38%
  1. State Bank Of India share price
  2. 827.05 -0.19%
Business News/ News / India/  THIS state to exempt EV buyers from road tax, registration fees for 3 years. Details here
BackBack

THIS state to exempt EV buyers from road tax, registration fees for 3 years. Details here

The government will exempt road tax and registration fees on purchase of electric vehicles for three years from October 14, 2022.

These EVs will be all automobiles that are powered by batteries, ultracapacitors, or fuel cells.Premium
These EVs will be all automobiles that are powered by batteries, ultracapacitors, or fuel cells.

In order to promote electric vehicles, the Uttar Pradesh government has decided to provide some benefits for EV buyers. As per the statement, the government will exempt road tax and registration fees on purchase of electric vehicles for three years from October 14, 2022, as reported by news agency ANI.

The government statement also said that the exemption will be valid for five years if the purchased electric vehicles is manufactured in the state itself. On behalf of the government, orders have been given to the RTOs of all the districts to ensure compliance with the instructions with immediate effect. 

Also Read: Ford's electric SUV, on Volkswagen's MEB platform, set for March 21 debut

According to the revised notification issued by Principal Secretary L. Venkateshwarlu, as per the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022, 100 per cent tax exemption will be given on electric vehicles (EV) sold and registered in Uttar Pradesh from October 14, 2022, to October 13, 2025.

Moreover, in the fourth and fifth year of the effective period of the Electric Vehicle Policy notified on October 14, 2022, i.e. from October 14, 2025, to October 13, 2027, a 100 per cent rebate will be given on EVs manufactured, sold and registered in the state.

Also Read: 6 Key tips to maximise your electric scooter's range

As per the government, these EV will be all automobiles that are powered by batteries, ultracapacitors, or fuel cells.

These include all two-wheelers, three-wheelers, and four-wheelers, Strong Hybrid Electric Vehicle (HEV), Plug-in Hybrid Electric Vehicle (PHEV), Battery Electric Vehicle (BEV), and Fuel Cell Electric Vehicle (FCEV).

This decision, currently, will give relief to 3,997 EV owners in Agra who have been charged taxes and the registration fee between October 14, 2022.

As of now, 11340 EVs are registered with the Divisional Transport Office (RTO) of Agra of which 3997 vehicles have been bought from October 14, 2022, till now. This includes 437 e-rickshaws, 30 cars, and the rest two-wheelers (EVs).

The exemption by UP Government is in addition to the subsidy provided by the Central Government on the purchase of electric vehicles.

Together these reliefs provided by the Central Government and the State Government will reduce the cost of two-wheelers by 15,000 to 20,000 on-road and cars by up to 1 lakh.

The government's decision will end the difference of the registration of EVs in Delhi and Uttar Pradesh and the rates will be the same in the state and the UT. According to the policy, a 15 percent subsidy will also be given on the factory price of electric vehicles purchased in the state.

In this, a subsidy of 5,000 per vehicle will be given for the first two lakh electric two-wheelers, a maximum of 12,000 for the first 50,000 electric three-wheelers, and up to one lakh per vehicle for the first 25,000 electric four-wheelers.

At the same time, a subsidy of up to 20 lakh per e-bus will be given on the first 400 buses purchased in the state.

A maximum of 1000 e-goods carriers will be given a subsidy of 10 per cent on the factory price for the purchase of e-goods carriers up to 1,00,000 per vehicle.

The government will also encourage government employees to buy electric vehicles. For this, the state government will also allow the employees to take an advance. 

In another announcement, in order to improve the state's transport system, CM Adityanath also launched a ticket booking and passenger feedback app called 'UP Rahi', which will allow passengers to make online reservations while sitting at home.

A press release by the government stated that, in addition to allowing users to pre-book bus travel from the comfort of their own homes, this app also offers cashless services. According to the release, the app will also allow passengers to give their feedback on the problems related to their journey, the behaviour of the driver-conductor, the condition of the bus, and other related issues on the app.

With the introduction of this app, lakhs of passengers of the state travelling in the bus will now be able to travel hassle-free. From the Google Play store, passengers can download the app. Along with English, the app is also available in Hindi, the release added.

UPSRTC General Manager IT Yuzvendra Kumar said that through this app, passengers will be able to book tickets through digital mediums. However, they will need to register themselves first after downloading the app. They will be able to use all the features of the app once they have registered.

(With inputs from ANI)

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 05 Mar 2023, 05:41 AM IST
Next Story footLogo
Recommended For You