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

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.

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”.

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.