The news is very much correct and cars and bikes are getting expensive from 1st of September because of a new order released by the Supreme Court.
From the 1st of September, you will have to pay Rs.24,000 more for a new car and Rs.13, 000 more for a new bike. This is because a third party insurance of new vehicles is becoming mandatory from September 1st, 2018.
“Third party insurance is a kind of liability insurance where an insurance company helps you protect yourself from the claims of a third party arising due to a damage caused by you to the their property”, reports India Today.
However, if you are buying vehicle for business or commercial purpose, there are some chances of you saving some taxes. This can be done by claiming the premium paid on all general insurance policies as expense allowance under the Income Tax Act, 1961. These general insurance policies also include liability insurance.