The fees levied for services provided by the Motor Vehicles, Registration and Stamp Duty, and Land Revenue Departments will go up as part of resource mapping plans for 2020-21.
Motorcycles and cars will turn costly from April 1, 2020.
The annual luxury building tax levied on residential buildings, one-time building tax, fees for transfer of registry, location map, and record of right (thandaper) have also been increased.
To encourage electric vehicles, tax on electric autorickshaws will be exempted for the first five years. The rebate on the first five-year tax of new petrol and diesel autorickshaws will go.
One-time tax at 5%
The one-time tax on new electric cars, motorcycles, private service vehicles for personal use, and three-wheelers has been limited to 5%. The tax on motorcycles not exceeding value up to ₹2 lakh has been increased by 1% and that of cars and private service vehicles for personal use not exceeding value of ₹15 lakh by 2%. The Finance Minister expects additional revenue of ₹200-crore on this score.
The tax on buses of educational institutions, excluding that of government and aided institutions, has been increased after 23 years. Quarterly tax at ₹50 a seat will be levied on buses having up to 20 seats. For buses above 20 seats, tax will be levied at ₹100 a seat per quarter. Dr. Isaac expects additional revenue of ₹6 crore.
A 10% reduction in tax has been announced for stage carriages. The fee levied for displaying advertisement has been revised as ₹5 per 100 sq cm for one month and ₹10 for digital advertisements. Vehicle owners need to pay tax in Kerala only from the date on which NOC is issued from other States for change of address of vehicles.
To avoid stamp duty tax evasion, amendments will be made to the Kerala Stamp Act to value such buildings as per CPWD rates. An additional revenue of ₹225 crore is expected from it.
To narrow down differences between the fair value fixed by the government and market value, a 10% increase will be made in the existing fair value. The Minister expects ₹200 crore through this measure.
Notified land near mega projects will be valued at a maximum of 30% above the declared fair value and the exchequer expects ₹50 crore. Suitable amendments will be made to the Registration Act to make registration compulsory for title deeds.
Rebate announced
The annual luxury building tax levied on residential building has also been hiked. A 20% rebate will be allowed for those who pay luxury tax in advance for five years or above, fetching an additional revenue of ₹16 crore.
The one-time building tax will be re-fixed rationally with an upper limit not exceeding 30%. Henceforth, the tax rate will be categorised into grama panchayats, municipalities, and corporations. The fees for transfer of registry has been revised and amendment will be made to treat each schedule in the deed as a separate unit . Location map will cost ₹200 and record of right ₹100. An additional revenue of ₹50 crore each is expected.
A one-time settlement scheme to recover lease rent of of ₹ 1,173.6 crore of government land has been announced.
