On 31st March, 2022, Karnataka Government passed Motor Vehicles Taxation (Amendment) Act, 2022. This act seeks to amend Karnataka Motor Vehicles Taxation Act, 1957 (Act) to extend the period of payment of taxes. This act is applicable from 1st April, 2022.
Key Points:
- The tax levied on all motor vehicles under Part A of the Schedule in the Act. The taxes are paid in advance by the registered owner/person having possession or control of motor vehicle.
- With the amendment of 4 of the Act, the period of payment of taxes is substituted from “fifteen-days” to “one month”.
- With the insertion of new proviso the manner in which the payment is introduced. The manner is as under-
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- On quarterly basis if the amount is Rupees Thirty Thousand.
- On monthly (pro-rata) basis if the amount is above Rupees Thirty Thousand before the expiry of validity of taxes.