Government of Punjab implements major amendments in Motor Vehicle Tax and Registration fees under budget 2023

As per the amendments made in the Motor Vehicle Registration (MVR) system under the budget of 2023, there have been significant changes in various aspects.

Private vehicles, which previously paid a token tax of Rs. 2500 per seat, will now pay the token tax based on the engine capacity (CC) of the vehicles. The specific details of the revised token tax rates for different CC ranges should be provided by the government authorities.

The changes in the token tax rates and other amendments in the MVR system will be effective from July 1, 2023. Vehicle owners should ensure they comply with the new regulations and pay the revised token tax accordingly.

Transfer fee rates have also been modified. For motorcycles and scooters, the transfer fee rate has been set at Rs. 500. This means that individuals transferring ownership of motorcycles or scooters will now be required to pay this revised transfer fee.

The registration fee for vehicles with engine capacities ranging from 1501 to 2000 CC has been reduced from 3% to 2%. This adjustment in the registration fee percentage is applicable to vehicles falling within this specific CC range.