Now, pay more on purchase of two and four wheeler
Now, pay more on purchase of two and four wheeler
The Punjab Government, on Thursday, approved the imposition of social security tax and surcharge on the registration of new vehicles.
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A 1 percent social security tax will be charged on the new vehicles at the time of registration whereas 10 percent tax will be charged on the freight for the transportation and goods. The notification for the imposition of the social security tax was issued, on Thursday.
The cash-strapped Punjab government is expected to use this money for social security plans whereas, by the imposition of these taxes, the government is likely to garner Rs 300 Crores per year. As many as Rs 200 crore will be collected from registration of new vehicles and Rs 100 crore from the freight of transportation of goods.
-PTC News
