To bail out Stage Carriage Ordinary Buses, Pb CM orders reduction in tax rate

Chandigarh: To bail out the Stage Carriage Ordinary Buses that are grappling a major financial crisis amid the extended lockdown, Punjab Chief Minister Captain Amarinder Singh on Monday ordered reduction in their tax rate, from Rs 2.80 to Rs 2.69 per kilometer, per vehicle, per day.

The Chief Minister has also directed the Transport Department to allow transport vehicle owners to pay tax arrears within one month, by June 30, without penalty and interest.

Meanwhile, Principal Secretary Transport K Siva Prasad said that the decision of curtailing the tax rates was aimed at providing immediate relief to the Stage Carriage Buses, so that they may come out of their current financial woes. The move would help protect the interests of the workers employed by the sector, he added.

“No penalty or interest or late payment of tax shall be imposed/recovered during this period,” said Prasad, adding that if the payment of arrears of tax is not made within the stipulated period, the arrears of tax along with penalty and interest shall become recoverable on the expiry of stipulated period. The notifications in this regard have already been issued, added Prasad.