Punjab Restricts Transfer of Imported Vehicles for 1 Year After Registration

The Punjab Excise Department has implemented a new rule prohibiting the transfer of imported cars to another owner for a year after registration.

Under the new regulation, an imported car will remain registered in the importer’s name for the full year. In the past, once a car was registered, it could be transferred to the buyer right away.

Excise officials claim that there are three types of imported vehicles that come into Punjab: personal, gift, and residential. Vehicles registered under all three categories might be transferred to another individual under the prior system as soon as the registration procedure was finished.

It will now take a year for buyers to transfer ownership. To make sure the new restriction is adhered to, the Excise Department has also implemented a system-based check.

According to officials, almost 20% of all car registrations in Punjab are made up of imported vehicles.

After the new policy is put into effect, the department’s revenue is anticipated to drop significantly.