- Starting July 2024, the Punjab government has raised the token tax rate for all motor vehicles.
- The 2024-25 budget now bases token tax on the invoice price of vehicles.
- The token tax for motor cars has been increased from Rs 15,000 to Rs 20,000.
LAHORE – Starting July 2024, the Punjab government has increased the token tax rate for all motor vehicles.
In the previous financial year, the Punjab Excise and Taxation Department charged a fixed annual tax based on engine capacity, with a specific token tax for vehicles up to 1000 cc.
In the 2024-25 budget, the provincial government has decided to base the token tax on the invoice price of the vehicles.
The excise department previously collected a token tax of Rs 15,000 on motor cars for the fiscal year 2023-24. For the fiscal year 2025, this tax has been increased by Rs5,000 to Rs20,000.
Complete Token Tax Structure of Punjab Excise
Under the revised structure, the excise department will collect 0.2% of the invoice price as token tax for vehicles with engine capacities between 1001 cc and 2000 cc.
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It will collect 0.3% of the invoice price as token tax for vehicles with engine capacities from 2001 cc to 2500 cc 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 |
