VAT on petrol, diesel hiked in Punjab

A decision in this regard was taken by the council of ministers in a meeting chaired by Chief Minister Bhagwant Mann here.Addressing the media after the Cabinet meeting, Finance Minister Harpal Singh Cheema said the decision has been taken to raise VAT on petrol and diesel

PTI

September 05, 2024 / 14:35 IST

Addressing the media after the Cabinet meeting, Finance Minister Harpal Singh Cheema said the decision has been taken to raise VAT on petrol and diesel

The Punjab Cabinet on Thursday gave approval to hike value-added tax (VAT) on petrol and diesel by 61 paise a litre and 92 paise per litre, respectively.

A decision in this regard was taken by the council of ministers in a meeting chaired by Chief Minister Bhagwant Mann here.Addressing the media after the Cabinet meeting, Finance Minister Harpal Singh Cheema said the decision has been taken to raise VAT on petrol and diesel.He said VAT on petrol will be raised by 61 paise and 92 paise a litre for diesel.Cheema said the hike in VAT on fuel will lead to an increase in revenue by Rs 395 crore from diesel and Rs 150 crore from petrol.

PTI

first published: Sep 5, 2024 02:35 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347