Petrol, Diesel to be costlier in J&K from monday

Srinagar, May 29: The petrol and diesel in Jammu and Kashmir would be dearer as the government on Tuesday announced new tax besides surcharge of Rs 5 per litre on petrol and Rs 1.5 on diesel from June 1.

“In exercise of the powers conferred by Section 3 and 3A of the Jammu and Kashmir Motor Sprit and Diesel Oil (Taxation of Sale) Act Samvat 2005 and in supersession of all the previous notifications on the subject, the government hereby direct that tax and surcharge on sale of Motor Sprit (petrol) and Diesel oil shall be levied at rate —-petrol tax: 24% minus Rs 0.50/litre and surcharge petrol: Rs 5/litre; Diesel—rate of tax 16% and surcharge 1.5/litre,” reads a notification issued by Financial Commissioner Finance Department, a copy of which lies with GNS. The notification shall come into effect from June 1.

(GNS)