Karnataka: In a recent announcement, Law and Parliamentary Affairs Minister H K Patil revealed that individuals scrapping end-of-life vehicles in Karnataka will now be eligible for tax concessions when purchasing new electric vehicles. The concessions, ranging from Rs 1,000 to Rs 40,000, are aimed at encouraging the adoption of electric vehicles.
For two-wheelers, the concession scale varies from Rs 1,000 to Rs 5,000. As an illustration, two-wheelers priced up to Rs 1 lakh will receive a Rs 1,000 concession, those up to Rs 2 lakh will enjoy a Rs 2,000 concession, and vehicles in the Rs 4-5 lakh price range will benefit from a concession of Rs 5,000. This initiative is part of the cabinet’s decision to incentivize the transition to electric vehicles and promote environmentally friendly practices in the state.
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