The Excise and Taxation Department of Punjab has updated the fees for vehicle registration and transfer in accordance with the budget outlined by the caretaker government.
The revised schedule sees a reduction in vehicle registration fees within the 1501-2000cc range by one per cent, bringing it down to 2% from the prior 3%. In a move encouraging environmentally-friendly transportation, the government has extended a substantial 95% discount on motor vehicle tax for electric vehicles, which will be in effect until June 2025.
In addition, the government introduced a new withholding tax on the registration of vehicles exceeding 2001cc. The token tax on private vehicles, previously a flat rate of Rs 2,500 per seat, will now be calculated based on engine capacity.
Transfer fees have also changed, with rates rising for motorcycles, cars, rickshaws, and commercial vehicles. Motorcycles increased from Rs150 to Rs500, while fees for vehicles up to 1000cc were raised to Rs2,500 from the earlier Rs1,200.
Vehicles up to 1800cc now carry a transfer fee of Rs5,000, up by Rs3,000, and those above 1800cc have a new fee of Rs10,000, marking a significant increase from the former Rs3,000. Commercial vehicle transfer fees also increased by Rs1,000 to a new total of Rs5,000.
