The Government of Mizoram have issued a notification in which The Mizoram Vehicles (Taxation) ( Amendment) Act, 2019 came into force on 27th May, 2019. This tax payment structure of newly registered vehicle for the first time as mentioned in this act is shown -
1. One Installment : 6 % of the cost of vehicle (exclusive of GST) for 15 years payable at the time of registration of the vehicle.
2. Two Installments : 4.2% of the cost of vehicle (exclusive of GST) for 10 years payable at the time of registration of the vehicle, and 2.2% for the remaining 5 years payable at the beginning of the 11th year.
3. Three Installments : 2.2% of the cost of vehicle (exclusive of GST) for 5 years payable at the time of registration of the vehicle, and 2.2% for the next 5 years payable at the beginning of the 6th year, and 2.2% for the last 5 years payable at the beginning of the 11th year.
