According to the amended Finance Bill 2023-24 approved by the parliament on Sunday, the government slapped a fixed tax on imported and locally manufactured vehicles from 2,001cc to above 3,000cc.
The fixed rate of tax would be 6% of the value of a vehicle having an engine capacity of 2,001cc to 2,500cc. The fixed rate of tax would be 8% of the value of a vehicle with an engine capacity of 2,501cc to 3,000cc.
The fixed rate of tax would be 10% of the value of a vehicle having engine capacity above 3,000cc.
