Chandigarh: The Punjab government has increased the rate of motor vehicle tax for the vehicles - four wheelers and two wheelers - to be purchased for personal use with immediate effect.
As per the notification issued by the state transport department on Friday, now state residents will have to pay 9% of the actual price if they purchase four wheeler of up to Rs 15 lakh for personal use. If the actual cost of the four wheeler is over Rs 15 lakh, the purchaser will have to pay motor vehicle tax of 11% of the actual value of the vehicle.
Similarly, if anyone in Punjab now purchases a two wheeler which costs upto Rs 1 lakh, he or she would have to pay motor vehicle tax of 7% of its actual price. If the value of the two wheeler exceeds Rs 1 lakh, it’s motor vehicle tax would be 9% of its actual cost.
The cash-strapped Punjab government has taken this decision to generate revenue from registeration of vehicles across the state.