Amendment status not verified — confirm the current text below against the official source.
For the SCHEDULE-H appended to the Pn'ncipal Act, the " °‘ 1 following shall be substituted, namely,— “SECOND SCHEDULE [See Section 1 7] PART—A: (3) Personalized vehicles (two Wheelers/lmvs). (i) No tax under this Act shall be payablem respect of vehicles 1 " - brought in the State of Manipur temporarily (for a period2 , upto three months) 1 7 ' (ii) Full Life Time Tax shall be charged/levied1n respect of the vehicles brought into the State of Manipm' permanently ahd if the vehiele is less than two years old with refund fiom original registering State. 7 . (iii) No tax shall be charged/leviedm respect of vehiclesbrought into the State of Manipur permanently and if the vehicle is more than two years old. ‘ (b) One Tune Tax In the case of luxury cars (havingsaleprice of Rs. 10 lakh or more) at a diseounted rate depending on ageof . car with refund fiom original registering State to be calculatedas _ follows:- Payable One Time Tax= 077‘.— [(077715)X ‘n ’ ‘m ’(where 2 1’is the age ofthe vehicle and‘m’ is the discounted value ' taking 10% depreciation per annum, i.e ‘m’=[(0TT/I 5) X ‘n '] X 0.10,‘where ‘X' sign means multiplication ‘/’ sign If , means division) &‘-’sign means subtraction 13 PART-B: Commercial Vehicles (Motor Cabs/ Maxi Cabs including Para transit light vehicles): (i) No tax under this Act shall be payable in respect of vehicles brought into the State of Manipur temporarily (for a period upto three months) (ii) One Time Tax, at a discounted rate depending on age of the vehicle shall be charged in respect of the vehicles brought into the State of Manipur permanently to be A calculated as follows:- Payable Life Time Tax= OTT— [(OITx/15) X ‘n ’-—] ‘m ’(where ‘n’ is the age of the vehicle and ‘m.’ is the discounted value taking 10°/ [depreciation per annum, i.e “m "=[(0T1'/15) X ‘n’JX 0.,10 where, ‘X’ sign means multiplication '- ’ means subtraction & ‘/'sign means dwision). .. PART—C: (a) Goods Vehicles both Private and Commercial (below 7.5T GVW): I (i) No Tax under this Act shall be payable in respectof . vehicles brought in the State of Manipur temporarily (for a periodupto three months) ' (ii) Full Life Time Tax shall be charged in respect oftthe Vehicles brought into the State of Manipur permanEntly and if the Vehicle is less than two years old with refund from original registering State. (iii) No Tax shall be charged, in respect of vehicles brought into the State of Manipur permanently and if the vehicle is more than two years old- (b) Goods Vehicles both Private and Commercial (above 7.5 Tonne GVW): Mode of Payment Annual! Recurring (minimm floor rate Rs. 500/ year] Tonne) (i) Permanently: Full tax in new State at the appfimble rate. (ii) Temporarily (for a period upto three months): under National Permit or under Bilateral Agreement.”.