Nano to cost Rs 1 lakh despite plant cost rise

The Statesman - Indian Newspapers in English Language from two editions.

Nano to cost Rs 1 lakh despite plant cost rise

KOLKATA, July 17: Tata Motors is expected to price its Nano at around one lakh despite cost escalation at their Singur plant but the one time tax you would pay during registration of your newly acquired Nano would go up by Rs 2,000 once the state Legislative Assembly gives its approval to the West Bengal Additional Tax and One Time Tax on Motor Vehicles (Amendment) Bill. The bill would be placed in the House tomorrow.
The one time tax, payable every five years would go up between Rs 2,000 and 10,000 once the existing Motor Vehicles Act is amended. Battery operated two wheelers and vehicles which enjoyed tax holiday so long would also be brought under tax net for the first time.
Tax on new vehicles with engine capacity of 900 cc owned by individuals or societies would be increased from Rs 8550 to Rs 10550. The Nano would have an engine capacity of 623 cc. The tax on motor cars up to 1490 cc would go up to Rs 13,900 and the special tax for air conditioned cars in this category would be another Rs 7,500.
Again for vehicles upto 2000 cc capacity engine the tax would be Rs 21,800 and the special tax would be nearly Rs 10,000. For vehicles with engine capacity of 2500 cc the tax payable would be Rs 25,000.
State finance minister Mr Asim Dasgupta had announced about the increase in tax during his Budget speech while claiming that this would bring in additional revenue of Rs 15 crore. n SNS