India News | MoHUA Issues PARIVARTAN Guidelines, Rolls out Incentives for Scrapping Old Commercial Vehicles

Get latest articles and stories on India at LatestLY. The proposed vehicle replacement policy offers substantial incentives for owners scrapping older vehicles at a Registered Vehicle Scrapping Facility (RVSF). Owners of pre-BS, BS-I, BS-II, BS-III and BS-IV vehicles will be eligible for a 100% motor vehicle tax concession, a full registration fee waiver, a 5% interest subvention and an 8% OEM discount on the purchase of a new vehicle.