Luxury tax on imported vehicles lifted in Punjab

Government of Punjab just announced the waiver of luxury tax which was applicable to imported cars category of 2000 cc and above. For 2000 cc to 3000 cc vehicles this was two hundred thousand rupees and for more than 3000 cc vehicles this was three hundred thousand rupees. This was the extra amount which had to be paid at the time of vehicle registration after the amounts spent on other taxes and custom duties etc. This tax was not there for long for the imported vehicles, this was made applicable just a year or so back and now suddenly waived. Interestingly the year before the tax was made applicable 1250 vehicles were registered in luxury cars category but after the […]