Buying a car in Punjab to be costlier

Posted By: Pti
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Chandigarh, Feb 22 (PTI) Cars will be costlier in Punjab.

The state cabinet today gave its nod to introduction ofnew slab rates for charging road tax on four wheelers.

As per new slab rates approved by the cabinet here, theauthorities have levied two per cent road tax on cars costingup to Rs.5 lakh, four per cent on cars costing between Rs. 5lakh and Rs. 10 lakh and six per cent on vehicles pricedbetween Rs. 10 lakh and Rs. 20 lakh.

The highest rate of tax at eight per cent has been imposedon car costing Rs. above 20 lakh, said an official releaseissued here.

Earlier, the state was charging road tax at rate of 2 percent on cost of four wheelers.

Punjab introduced the new rate of taxation after Haryanaand Chandigarh also implemented slab rate regime for charginglump sum tax this year.

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