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May 20, 2024 9:54 pm

Punjab issues notification regarding MV tax rebate on purchase of new vehicles by owners of scrap vehicles

The Fact News Service
Chandigarh, January 26

The Punjab Government has issued a notification to give motor vehicle tax rebates on purchase of new vehicles by the owner of scrapped vehicle.

Disclosing this here today, Transport Minister Laljit Singh Bhullar said that in consonance to the Scrapping Policy introduced by the Ministry of Road Transport and Highways, regarding registration of new vehicles, the Punjab Cabinet has decided to give Motor Vehicle Tax rebate of up to 15% to the Transport Vehicle Owners and 25% to Non-Transport Vehicle Owners in Motor Vehicle Tax under Section-13 (3) of the Punjab Motor Vehicle Taxation Act, 1924.

He said, as per this environment-friendly decision, the owners of transport vehicles can take advantage of this scheme up to 8 years from the registration of their vehicles and owners of non-transport vehicles up to 15 years from the registration of their vehicles. When the vehicle is scrapped by the vehicle owner, the vehicle will be purchased by the scrapper who will issue a “Certificate of Deposit” to the vehicle owner, which will be deposited with the concerned Licensing Authority and the owner of the vehicle will get the due exemption on Motor tax.

He said, scrapping of the transport vehicle up to 8 years after registration is optional.

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