New Delhi. If you are dreaming of buying your dream car before the festivals, then your happiness may fade. The government of this state has made buying vehicles expensive for the general public. Actually, the Punjab government has increased the tax on two-wheelers and four-wheelers by 1%. This will make the vehicles available to the general public expensive. The new rates of tax on motor vehicles will be applicable on the actual price of the vehicle.
Let us tell you that festivals are going to start in the whole country in a few days. In such a situation, people's enthusiasm to buy vehicles may decrease due to the increase in their prices. People who were thinking of saving in the festive season offer will now have to pay more tax. Let us know how much the price of vehicles can increase.
How expensive will the car be?
As per the new rates, tax on four-wheelers costing up to Rs 15 lakh has been increased from 9 per cent to 9.5 per cent, which means you will now have to pay Rs 7,500 more for the vehicle.
The price of cars costing more than Rs 15 lakh but less than Rs 25 lakh will increase by about Rs 25,000. The tax rate on these cars has been increased by one percent to 12 percent. According to the notification of the Transport Department, another category has been added for cars costing more than Rs 25 lakh and it has been taxed at the rate of 13 percent.
How much will the price of two-wheelers increase?
According to the notification, the tax for two-wheelers costing up to Rs 1 lakh has been increased by 0.5 percent to 7.5 percent. If the price of the two-wheeler is more than Rs 1 lakh but less than Rs 2 lakh, then the tax rate will be 10 percent. According to the notification, two-wheelers costing more than Rs 2 lakh will now attract 11 percent motor vehicle tax.
Overall, buying a car from Punjab is going to be more expensive than other states. This decision of the government before the festival has come as a shock to thousands of people who were planning to buy a car.
Tags: Auto News, Car Bike News
FIRST PUBLISHED : August 23, 2024, 10:53 IST