LAHORE – The Punjab government has revised up the token tax rate for all motor vehicles with effect from July 2024.
In previous financial year, the Punjab Excise and Taxation Department received fixed tax per year on the basis of engine capacity and there was fixed token tax on vehicles of up to 1000cc.
The provincial government in the budget 2024-25 has decided to evaluate the token tax on the basis of the invoice price of the vehicles.
The excise department had previously collected Rs15,000 token tax on motor cars in fiscal year 2023-24. For the fiscal year 2025, the token tax has been jacked up by Rs5,000 to Rs20,000.
Complete Token Tax Structure of Punjab Excise
Under the revised structure, the excise department would collect 0.2% of invoice price in wake of token tax on vehicles from 1001cc to 2000cc.
It would collect 0.3% of invoice price as token tax on vehicles with engine capacity of 2001cc to 2500c and above.
| Engine Capacity | Token Tax
2024-25 |
Token Tax
203-24 |
| 1000 CC | Rs20000 | Rs15,000 |
| 1001 to 1199 CC | 0.2 % of Invoice price | Rs1,800 per year |
| 1200 to 1299 CC | 0.2 % of Invoice price | Rs1,800 per year |
| 1300 CC | 0.2 % of Invoice price | Rs1,800 per year |
| 1301 to 1499 CC | 0.2 % of Invoice price | Rs6,000 per year |
| 1500 CC | 0.2 % of Invoice price | Rs6,000 per year |
| 1501 to 1599 CC | 0.2 % of Invoice price | Rs9,000 per year |
| 1600 to 1999 CC | 0.2 % of Invoice price | Rs9,000 per year |
| 2000 CC | 0.2 % of Invoice price | Rs9,000 per year |
| 2001 to 2500 CC | 0.3 % of Invoice price | Rs12,000 per year |
| 2500 above | 0.3 % of Invoice price | Rs12,000 per year |
