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Punjab hikes rates of diesel and petrol by about Rs 2 per litre

Will be effective from intervening night of May 5 and 6
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Tribune News Service
Chandigarh, May 5

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Hard pressed for funds, the Punjab Government on Tuesday amended the value added tax to hike rates of diesel and petrol by about Rs 2 per litre. The hike will be effective from intervening midnight of May 5 and 6.

Punjab follows Delhi which has already raised diesel price by Rs 7.15 and petrol by Rs 1.67 some days ago.

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Haryana had increased petrol prices by Rs one and diesel by Rs 1.10.

The Punjab Government on Tuesday late evening notified amendments in Schedule E appended to the Punjab Value Added Tax Act, 2005 thereby increasing “rate of tax”, from “11.8 per cent to 15.15 per cent”.

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The amendments were notified after due approval to the same was accorded by the Governor in exercise of powers conferred by sub-section (3) of Section 8 of  the Punjab Value Added Tax Act, 2005 (Punjab Act No.8 of 2005), and all other powers enabling him in this behalf.

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