Big news: Punjab government increased diesel-petrol prices, cabinet also imposed tax burden on property

The Punjab government has decided to make diesel and petrol more expensive in the cabinet meeting. Now diesel and petrol will be 25 paise more expensive in the state. With this, it has been decided to impose property tax also.

11th January, 2021

The Punjab government has decided to increase the tax burden on diesel and petrol to improve its economic condition. In the cabinet meeting, CM Capt Amarinder Singh government recommended increase in prices of diesel and petrol in Punjab. After this, the prices of diesel and petrol in the state have increased by 25 paise per liter. After the decision of the cabinet, the second hit has been on immovable properties. After this, tax burden was also imposed on real estate in Punjab.

On Monday evening, the Punjab cabinet met under the chairmanship of Chief Minister Captain Amaridar Singh. In this, a proposal to increase the prices of Punjab diesel and petrol by 25 paise per liter was passed. The Punjab government has imposed a tax of 25 paise on petrol-diesel and real estate under special infrastructure development fees. The Punjab government has set a target of earning Rs 216 crore from it.

The Punjab Government has also approved the One Time Settlement Scheme for the C Farm in the meeting. Till the coming of GST in 2017, the cases of traders whose C farms were not able to settle. According to the new scheme, a trader with a tax of up to one lakh rupees will neither have to pay interest nor penalty. While he will get 90 percent exemption in tax. Traders with tax ranging from one to five lakhs are exempt from interest and penalty.

Category: Business


Reported by:
Khushbu Kumari Jha