Petrol, diesel to cost more in Punjab as govt hikes VAT on petroleum products

Chandigarh

The prices of Petrol and Diesel are likely to go up in Punjab as the government has hiked VAT on these petroleum products.

The hike in Petrol, diesel has been announced in a Gazette Notification issued from the office of Punjab Governor Banwari Lal Purohit on 10 June 2023.

“In exercise of the powers conferred by sub-section (3) of section 8 of the Punjab Value Added Tax Act, the Punjab Governor is pleased to make amendment in the Act,” the notification said.

Guvs aiding BJP in usurping power by delaying nod to bills: Kejriwal

Now the VAT on diesel, other than premium diesel, has been fixed at 12 percent or Rs 10.02 per litre whichever is greater.

The VAT on Petrol has been increased by 15.74 percent or Rs 14.32 per litre, whichever is greater, the notification further reads.

The notification provides for additional tax at the rate of 10% as specified in the section
8-B of the Punjab Value Added Tax Act, 2005 shall be added in ad valorem rates only. Fixed rates specified above are already inclusive of additional tax at the rate of 10% as specified in section 8-B of the Punjab Value Added Tax Act, 2005, it adds.