Punjab: 15% rebate on scapping vehicles

Tribune News Service

Chandigarh, January 25

The Punjab Government has issued a notification to provide Motor Vehicle Tax (MVT) rebate on purchase of new vehicles by the owners of scrapped vehicles.

Disclosing this here today, Transport Minister Laljit Singh Bhullar said that in consonance with the Scrapping Policy introduced by the Ministry of Road Transport and Highways regarding registration of new vehicles, the Punjab Cabinet has decided to give MVT rebate of up to 15% to 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 tax.

Motor vehicle tax

• MVT rebate of up to 15% to transport vehicle owners and 25% to non-transport vehicle owners for scrappage
• For transport vehicles, validity up to 8 years from the registration and for non-transport vehicles, up to 15 years from the registration.

About The Author

Tribune News Service

The Tribune News Service brings you the latest news, analysis and insights from the region, India and around the world. Follow the Tribune News Service for a wide-ranging coverage of events as they unfold, with perspective and clarity.