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Reducing taxes for registering new vehicles may be a good revenue source: Goa Govt.

On Wednesday, Chief minister Pramod Sawant said in the Goa Legislative Assembly that “If we lower the tax, people will once again come in large numbers to register vehicles in Goa. It can be a revenue source. However, such issue is still under examination by the Goa government.

The Goa govt. is looking for the opportunities of reducing the tax on registration of vehicles. This will help to attract buyers from other states.

The purpose of exploring such possibility is to help support its revenues as tax collections have taken a massive hit since the implementation of the Goods and Services Tax (GST) regime two years ago.

In order to cover up the shortfall of revenue due to GST, the state government has already received a Rs. 502 crore compensation package from the central government.

The state used to depend largely on revenue earned from VAT charges. However, continuous change in the GST tax rates didn’t much help the state for revenue.

Author: Niranjan Reddy

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