The Punjab Excise and Taxation Department has introduced a new policy restricting the transfer of imported vehicles for one year after registration.
The change applies to vehicles imported under the personal baggage, gift and residence categories. Under the revised policy, such vehicles will initially be registered only in the name of the person who imported them.
One-Year Transfer Restriction
Previously, owners could transfer imported vehicles to another buyer immediately after registration.
The new policy requires owners to wait one year from the registration date before transferring ownership.
Excise officials said the department has also introduced a system-level restriction. The system will automatically prevent ownership transfers before the mandatory one-year period is completed.
The restriction covers all three existing import categories.
This means buyers who purchase an imported vehicle shortly after its registration will not be able to immediately register it in their own name through a normal ownership transfer.
Imported Vehicles Form Major Share
According to Excise officials, imported vehicles account for around 20 percent of vehicle registrations in Punjab on average.
The policy could therefore affect a significant segment of the provincial vehicle market.
Officials also said the measure may affect Excise Department revenue. Imported vehicles previously generated additional revenue through ownership transfers soon after registration.
Under the new system, these transfers will be delayed for at least one year, potentially reducing or postponing related revenue collections.
Policy Changes Vehicle Buying Process
The revised rules mean importers will have to retain ownership of their vehicles for the required period.
Potential buyers will also need to verify a vehicle’s registration date and transfer eligibility before completing a purchase.
The Excise Department has applied the restriction across imported vehicles registered under personal baggage, gift and residence schemes.
The new policy is expected to change how imported vehicles are bought and sold in Punjab, particularly in the first year after registration.
