Vehicles from other states to get new RCs
Balwant Garg
Tribune News Service
Faridkot, March 17
As per a new decision of the state Transport Department, every vehicle which is kept in Punjab for over a period of 12 months must get a new registration from the state government.
So every buyer of a used car from UP, Haryana, Delhi or Chandigarh in Punjab is to pay heavy fee for the reassignment and new registration of this old vehicle in Punjab since February 19, 2015.
Earlier, buyer of a used car, brought from UP, Haryana or Delhi, had to pay just Rs 3,520 as transfer of ownership fee to the Transport Department in Punjab, but now a buyer of old car from other state has to pay eight per cent registration tax.
To calculate this eight per cent tax, the Transport Department makes calculations based on the depreciation values they have for various cars and models. So this eight per cent registration tax is fixed based on the invoice of this vehicle, minus depreciation.
For calculating depreciation for a vehicle which is less than three year old, its market value is calculated at 80 per cent of the invoice rate. For a vehicle which is of 3-6 years of age, its market value is 60 per cent and a vehicle of 6-9 years age assessed at 40 per cent of its original value. A vehicle older than 9-years of age is of 20 per cent value for the purpose of charging registration tax.
In a recent communiqué to all DTOs, the state transport commissioner (STC), Punjab, has ordered that a person in Punjab who brought a vehicle from other state has to make its registration afresh in Punjab.
”The move will generate good revenue for Punjab from those who buy old vehicles from other states,” said the STC.
But in the last one month, this order of the STC has come a cropper to big bazaar of sale-purchase of old vehicles in this region. Every Sunday thousands of old vehicles from UP, Haryana, Delhi and Chandigarh are sold in the markets of Malout, Moga, Kotkapura, Abohar, Ferozepur and Fazilka. As market value of many of the old vehicles sold in these bazaars are between Rs 2 lakh and Rs 10 lakh, paying 8 per cent tax for a new registration in Punjab for these old vehicles has fallen heavily on them.
