UP waives fine on late payment of CV tax
Equipment

UP waives fine on late payment of CV tax

To revive the ailing transport industry, the Uttar Pradesh government has decided to waive the penalty for late payment of commercial vehicle (CV) taxes. During the pandemic, the industry had been hit due to the restrictions on the movement of CVs. The move will help CV owners that were registered before April 1, 2020.

L Venkateshwar Lu, Principal Secretary, Transport Department, issued a notification saying that the owners of CVs whose cases for defaulting on tax payments were pending in court could apply for the waiver and withdrawal of the petitions.

CV owners pay quarterly taxes to the transport department, ranging from Rs 15,000 to Rs 40,000. The department charges a 5% compound interest for failure to pay the taxes in time. About 50,000 commercial vehicles — 16,000 in Noida, 23,000 in Ghaziabad, and 11,000 in Bulandshahr and Hapur — had not cleared their taxes so far. In total, the RTO will waive Rs 183 crore with this move.

The government notification also clarified that the owners of vehicles that had been seized by banks for defaulting on EMI payments or those against which recovery notices had been issued could also request the waiver.

The applicants will have to pay a Rs 1,000 fee and will have one month to request the waiver. The vehicle owners can pay the pending taxes in three instalments without any penalty.

To revive the ailing transport industry, the Uttar Pradesh government has decided to waive the penalty for late payment of commercial vehicle (CV) taxes. During the pandemic, the industry had been hit due to the restrictions on the movement of CVs. The move will help CV owners that were registered before April 1, 2020. L Venkateshwar Lu, Principal Secretary, Transport Department, issued a notification saying that the owners of CVs whose cases for defaulting on tax payments were pending in court could apply for the waiver and withdrawal of the petitions. CV owners pay quarterly taxes to the transport department, ranging from Rs 15,000 to Rs 40,000. The department charges a 5% compound interest for failure to pay the taxes in time. About 50,000 commercial vehicles — 16,000 in Noida, 23,000 in Ghaziabad, and 11,000 in Bulandshahr and Hapur — had not cleared their taxes so far. In total, the RTO will waive Rs 183 crore with this move. The government notification also clarified that the owners of vehicles that had been seized by banks for defaulting on EMI payments or those against which recovery notices had been issued could also request the waiver. The applicants will have to pay a Rs 1,000 fee and will have one month to request the waiver. The vehicle owners can pay the pending taxes in three instalments without any penalty.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000