Punjab Cabinet approves a VAT hike on petrol by 61 paise and diesel by 92 paise per litre, aiming to increase revenue by ₹395 crore from diesel.
The Punjab Cabinet gave approval to hike value-added tax (VAT) on petrol and diesel by 61 paise a litre and 92 paise per litre, respectively. The decision was taken by the council of ministers in a meeting chaired by chief minister Bhagwant Mann.
Punjab VAT hike: The Punjab Cabinet hiked VAT on petrol and diesel by 61 paise a litre and 92 paise per litre, respectively.(Reuters)
Punjab 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 and the hike in VAT on fuel will lead to an increase in revenue by ₹395 crore from diesel and ₹150 crore from petrol.
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News/Business/ Petrol, diesel become costlier in Punjab as VAT hikes: Check latest rates
