The federal government has directed the excise department to abolish the lifetime token tax on 1,000 cc vehicles.
According to the details, the government has issued a directive that one thousand cc vehicles will be brought into the tax net annually.
According to sources, recommendations have also been made to increase the tax on 1,000 cc vehicles in the new financial year. Excise department officials insisted on keeping 1,000 cc vehicles on lifetime tokens.
According to sources, the excise department officials said that the government is getting better revenue from lifetime tokens while bringing one thousand cc vehicles in the annual tax net will reduce the revenue.
Note that during the tenure of the PTI government, new vehicles became more expensive by Rs 2 lakh and Rs 3 lakh. As a result, the prices of old cars have also increased significantly.