Taxila offer PGDM and not MBA, so lets get that out of the way.
Taxila Business School is 'ok' for a postgraduate management course if you're not too stringent on going to the best B-school around. The PGDM is AICTE approved. I wouldn't advise going for Taxila if you're after high packages right out of college. The course provided will give you a better understanding of how the industry operates and what the moving parts are.
Best of Luck:)