Goa Cabinet has approved a new road-tax option for owners of construction equipment vehicles, granting them to choose between paying an annual tax of 1% of the vehicle's cost or a one-time tax of 9% at the time of registration.
The decision applies to construction equipment such as excavators, wheel loaders, mobile cranes and forklift trucks, which are primarily used for infrastructure and construction projects and may operate intermittently or at specific project sites, reported by The Times of India.
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Previously, owners are required to pay the road tax as a one-time charge at registration. The government said this can create a significant upfront financial burden, irrespective of how frequently the equipment is subsequently used.
The new provision follows representations from the Goa Crane Owners Association, which had sought an annual taxation option for construction equipment instead of mandatory one-time payment.
The Cabinet also said that the decision does not amount to a reduction or concession in the tax rate. Instead, registered owners will have the flexibility to select the payment structure that suits their requirements.
As per the the cabinet, quoted by The Times of India, "There is no concession/reduction in tax rate, instead the option is provided to the registered owner to either pay tax yearly at the rate of 1% of the cost of the vehicle as annual tax or 9% of the cost of vehicle as one time tax at the time of registration,"
The Cabinet also approved the acquisition of a 7,925-square-metre land parcel at Cacora-Curchorem in Quepem for the use of ITI Cacora. The acquisition will involve compensation of Rs 1.9 crore under the applicable land acquisition policy, according to the report.
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The land transfer will remain subject to necessary statutory approvals and permissions, including tree-felling clearance wherever required.
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