Chandigarh: Buying automobiles and two-wheelers in Punjab will now be dearer, because the state authorities has elevated the motorized vehicle tax by as much as one share level. This tax hike has been carried out simply earlier than the upcoming pageant season.
As per the newest notification from the Division of Transport, the newly revised motorized vehicle tax charges might be utilized to the precise buy value of the car.
New charges for four-wheelers
In accordance with the brand new charges, the tax on a four-wheeler costing as much as Rs 15 lakh has been elevated from 9 per cent to 9.5 per cent, resulting in a value rise of as much as Rs 7,500.
For automobiles priced between Rs 15 lakh and Rs 25 lakh, the tax charge has been raised by one share level to 12 per cent, leading to an approximate enhance of Rs 25,000. Moreover, a brand new class has been launched for automobiles costing above Rs 25 lakh, with a tax charge of 13 per cent, in response to the notification.
New charges for two-wheelers
For 2-wheelers priced as much as Rs 1 lakh, the motorized vehicle tax has been raised by 0.5 share factors to 7.5 per cent. If a two-wheeler prices between Rs 1 lakh and rs 2 lakh, the tax charge might be 10 per cent. For 2-wheelers exceeding R 2 lakh, the tax charge might be 11 per cent, as per the notification.
(With PTI inputs)
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