The Punjab budget for FY 2021-22 brought some bad news for motorcycle buyers as the Excise and Taxation Department has approved a proposal to increase token tax on motorcycles, reported 24NewsHD TV channel on Tuesday.

As per details, the excise and taxation authorities have revised the token fees. From now onwards Rs1,000 token fee will be collected on buying 70cc motorcycles, Rs1,500 will be collected on 100cc motorcycles while up to Rs2,000 will be collected on 125cc bikes.

The TV channel reported that Rs2,500 will be collected in terms of token tax on 150cc motorcycles.

The excise officials said that a new token tax has been adopted erasing the previous Fixed Token Tax regime.

Reporter Ali Sahi