The Government of Goa issued a Bill on 16th February, 2024 pertaining to the “Goa Motor Vehicles Tax (Amendment) Bill, 2024,” which aims to amend the Goa Motor Vehicles Tax Act, 1974. The bill encompasses several key amendments, including the introduction of new tax rates for various categories of motor vehicles at the time of registration, simplification of the tax structure, and the repeal of the Goa Motor Vehicles Tax (Amendment) Ordinance, 2023.
The new tax rates are categorized based on the cost of the vehicle, such as 9%, 12%, and 15% tax on the invoice value at the time of registration for vehicles falling within specific cost brackets. Additionally, the bill proposes a one-time payment of tax on the registration of rent-a-cars and rent-a-bikes, as opposed to the existing yearly tax payment structure.
Furthermore, the document outlines the specific amendments made to the Schedule appended to the Goa Motor Vehicles Tax Act, 1974. These amendments include changes to the tax rates for different classes of motor vehicles, such as motor cycles, tricycles, auto rickshaws, passenger vehicles, and goods vehicles. Additionally, the bill introduces a scale of refund for two-wheelers, four-wheelers, and above, specifying the percentage of actual tax paid to be refunded upon certain events, such as transfer of ownership or change of address.
The document also includes the Statement of Objects and Reasons, which highlights the primary objectives of the bill, including the repeal of the Goa Motor Vehicles Tax (Amendment) Ordinance, 2023, and the restructuring of motor vehicles tax to encourage the registration of high-end cars and bikes in Goa. The Financial Memorandum provides detailed insights into the major changes in tax rates, capping of tax amounts, and the proposed tax on construction equipment vehicles. Notably, the bill does not envisage any delegated legislation.
