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March 26, 2023 2:48 pm

Punjab to give Motor Vehicle tax rebate on purchase of new vehicles by owners of scrapped vehicle

The Fact News Service
Chandigarh, January 6

In consonance with the Scrapping Policy introduced by the Ministry of Road Transport and Highways, regarding the registration of new vehicles, the Punjab Cabinet also 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.

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 vehicle and owners of non-transport vehicles up to 15 years from the registration of their vehicle.

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 exemption on Motor tax.

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