Punjab Cabinet okays amendment to simplify realisation of Motor Vehicle Tax or refund where applicable
Chandigarh (Punjab) [India], February 24 (ANI): The Punjab Cabinet led by Chief Minister Captain Amarinder Singh on Wednesday approved the amendment of Section 3 and Schedule of the Punjab Motor Vehicle Taxation Act, 1924 (Amended) to simplify the procedure for realisation of motor vehicle tax and its refund where applicable.
According to a press release, the amendment deals with issues like the refund of lump-sum tax paid in case of a motor car or motorcycle owner shifting to another state with the vehicle and ceasing to be a resident of Punjab, or transfer of ownership of the vehicle to a person having residence outside the state.
In both such cases, the refund of the lump sum tax paid shall be allowed at such rate as may be determined by the government from time to time.
"In case a transport vehicle is registered in a State other than Punjab, such a vehicle will become liable for paying tax the moment it enters the latter at such rate, as may be determined by the government from time to time," said the release.
Similarly, at the time of issue of new stage carriage permit, one-time tax per kilometre will be levied on such buses, and as and when a big bus holder is allowed to ply on extended route with the increased mileage, a one-time tax per kilometer shall be levied.
"The notification issued shall specify the type of motor vehicles, the periods and the manner in which the tax shall be levied at such rates, as may be specified by the State Government, by notification, from time to time. However, it shall be provided in the notification that the rates of tax shall not exceed the maximum limit as has been specified in the Schedule," according to the release. (ANI)
