Registration of electric vehicles has begun in Punjab. Punjab Excise and taxation department has decided to give a huge discount of 95 percent on vehicle registration and token tax for the electric vehicles. This decision has made in the proposed Finance Bill 2022 in order to control environmental pollution.
Punjab Excise and Taxation Department Statement:
In the summary provided to the Punjab government, the Excise and Taxation Department Stated that eco friendly electric cars, whether little or large, government or private, should be charged minor charges upon registration. The government has also developed various methods for bringing electric vehicles into the tax system. In addition, the government would provide a 5% discount on token tax payments made through electronic transactions. The Motor Registration Authority working under the department has finished all of the necessary preparations for registering all electric vehicles with a token tax discount.
Purpose of EV Registration Discount:
The decision has made in consideration of the high levels of pollution created by car fuel in cities across Punjab. The use of electric cars will help reduce air pollution. A policy has issued to allow registration of electric vehicles across Punjab.
The electric vehicle assists to reduce harmful air pollution caused by exhaust emissions. The department has taken this step to reduce pollution and ensure a healthy environment for citizens.
The electric car will also help to reduced the cost of fuel. The government is currently facing significant financial difficulties due to rising fuel prices across the world. The use of electric vehicles is a good move that will aid save the government millions of dollars each year.