The Punjab Assembly has passed a Rs5,446 billion budget for the fiscal year 2024-25 with a majority vote.
Starting July 1, 2024, the new provincial revenues and budget measures will take effect, updating taxes that have been unchanged for 70 years.
Punjab Assembly Speaker Malik Muhammad Ahmad Khan signed the Finance Bill, which includes revised registration fees for motorcycles and cars.
The Punjab Excise and Taxation Department, responsible for collecting these fees, will issue registration numbers for vehicles accordingly.
New Motorcycle, Car Registration Fee in Punjab from July 1
The registration fee for motorcycles and scooters is set at Rs1,500, with an additional 10% annual fee for registration transfers within 10 years.
For vehicles up to 1000cc, the excise department will collect a registration fee of Rs20,000, with a similar 10% annual transfer fee.
For vehicles between 1000cc and 2000cc, the registration fee will be 0.02% of the purchase price, and for those over 2000cc, it will be 0.03%.
