Advance Tax on Transfer of Motor Vehicles 231B

Advance Tax on Transfer of Motor Vehicles 231B

Advance Tax on Transfer of Motor Vehicles 231B: The Finance Bill proposes to tax the sale of motor vehicles if the locally manufactured motor vehicle has been sold prior to registration by the person who originally purchased it from the local manufacturer at the following rates;

S. No.                                                Engine capacity                                                                             Tax
1 Up to 1000cc Rs.50,000
2 1001cc to 2000cc Rs.100,000
3 2001cc and above Rs.200,000

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